Xiaomi India has announced that Muralikrishnan B, the current President, will be stepping down at the end of 2024 to pursue academic research, specifically an Executive Doctorate in Management focused on “Consumer Behaviour on Technology Platforms.”
Murali, who joined Xiaomi India in 2018 and served as COO before his promotion to President in 2022, played a pivotal role in strengthening Xiaomi’s brand and strategic direction in India. Adam Zeng, Xiaomi’s Senior Vice President, praised Murali’s contributions, highlighting his success in connecting millions of Indians with innovative products.
Reflecting on his tenure, Murali expressed gratitude for Xiaomi’s supportive environment and dedication to core values like sincerity and passion, which resonated with him throughout his leadership. He thanked Xiaomi’s leadership, colleagues, partners, and Xiaomi fans for their role in the brand’s success.
Despite this leadership transition, Xiaomi India remains committed to its growth in the Indian market. The company has a solid leadership team, with Sudhin Mathur, an industry expert with over 30 years of experience, continuing as COO. Mathur’s extensive background includes roles as Managing Director of Motorola Mobility India, Country Head of Lenovo Mobile Business Group, and significant contributions at Sony Ericsson and LG Mobile.
Alongside Mathur, other senior leaders like Sameer Rao (CFO), Varun Madan (CPO), and Anuj Sharma (CMO) will help Xiaomi stay on course to deliver high-quality technology and further strengthen its position in India. The company aims to expand its product ecosystem, introduce innovative offerings, and maintain its status as a leader in consumer electronics.
Talking about the Indian smartphone market, Q3 2024 saw a 3% year-on-year increase in shipments, while its market value surged by 12% due to a growing demand for premium devices and EMI-driven affordability. Xiaomi captured the second position in volume share, showcasing a 3% YoY growth. This growth is attributed to Xiaomi’s balanced approach across both online and offline sales channels, helping the brand maintain strong visibility and consumer reach.
Xiaomi continues to capitalize on the broader shift towards premiumization, benefiting from the demand for 5G smartphones, which constituted 81% of total shipments this quarter. This trend was particularly notable in the Rs. 10,001-Rs. 15,000 segment, where 5G penetration hit 93%, spurred by the availability of more affordable 5G models.
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