A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. — Reuters pic
Friday, 03 Jun 2022 5:19 PM MYT
BENGALURU, June 3 — The Indian unit of Chinese smartphone maker Xiaomi Corp said today it has appointed founding member Alvin Tse as its general manager, a change of guard as the company faces government scrutiny over its business practices.
Tse, a British national who was also the former general manager of Xiaomi Indonesia, has helped the company expand into many global markets, Xiaomi India said in a tweet.
The organisational rejig will also have Anuj Sharma rejoin the company as the chief marketing officer.
The development comes nearly two months after India’s federal financial-crime fighting agency summoned former Xiaomi India head Manu Kumar Jain in an investigation on whether the company’s business practices conformed with Indian foreign exchange laws, two sources had told Reuters.
The Enforcement Directorate also seized US$725 million from the company’s local bank accounts after a probe found the smartphone maker had made illegal remittances to foreign entities by passing them off as royalty payments.
However, an Indian court has put the agency’s decision to seize the amount on hold following a legal challenge by Xiaomi.
In India, Xiaomi has seen its share of the domestic smartphone market surge to 24 per cent in 2021 from 6 per cent in 2016, making it the market leader, according to Counterpoint Research. — Reuters