ALB Asia Super 50 TMT 2024 | Asian Legal Business legalbusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from legalbusinessonline.com Daily Mail and Mail on Sunday newspapers.
Chinese mobile phone manufacturer Xiaomi has said it will not pursue the joint-venture solutions used in India by its peers. President Muralikrishnan B said the firm was looking to remain a 100% subsidiary of its Chinese parent, amid speculation of an Indian joint venture, especially as some of its contract manufacturers enjoy incentives from the government.
Chinese mobile phone manufacturer Xiaomi has said it will not pursue the joint-venture solutions used in India by its peers. President Muralikrishnan B said the firm was looking to remain a 100% subsidiary of its Chinese parent, amid speculation of an Indian joint venture, especially as some of its contract manufacturers enjoy incentives from the government.
Xiaomi: The layoffs come with the company rejigging its internal structures, with most of the decisions now being taken by the Chinese parent - a change that several employees said was at the heart of the company s slipping market share.
A spokesperson from Xiaomi India stated that the headcount decisions were based on the business outlook and that the local Indian leadership remained empowered, , Xiaomi India, Enforcement Directorate (ED), layoffs