Responding to his message, head and VP of arch rival Realme Madhav Sheth wished him all the very best. In the tweet, Sheth also reminded him of how after facing a ‘rejection’ he went on to become a strong competitor.
“From the day being rejected to be one of your distribution partners to our journey as competitors, it has been phenomenal. All the best @manukumarjain for your journey ahead,” Sheth tweeted, quoting Jain’s tweet announcing the end of his journey at Xiaomi.
From the day being rejected to be one of your distribution partners to our journey as competitors, it has been phen… https://t.co/Sm28vpqj7n
— Madhav Sheth (@MadhavSheth1) 1675144346000
To which, Jain replied: “Whoops! Looks like we missed out on a great opportunity. Thank you for applying to become a distribution partner and thank you so much for your wishes. Best of luck to you for the future.”
@MadhavSheth1 Whoops! Looks like we missed out on a great opportunity.Thank you for applying to become a distribu… https://t.co/HrKUwfM09n
— Manu Kumar Jain (@manukumarjain) 1675152575000
Incidentally, Xiaomi and Realme have had a frosty relationship. When Xiaomi was thriving in the Indian smartphone market, Realme came in as a direct competitor. In one such incident, top executives of both the brands exchanged barbs on social media and the ‘copy-cat’ episode became infamous.
The rivalry between the two bosses apparently started in May 2019 when Jain took to Twitter and displayed unhappiness against Realme’s marketing strategy. In January 2020, Jain, who was then serving as Xiaomi vice president and Xiaomi India managing director, blamed Realme for being a “copy-cat brand.”
To this, Sheth tweeted, “A real innovative brand and market leader won’t behave like that. Basic dignity and ethics should be maintained no matter how insecure you are of your competitor’s growth.” These episodes came to an end during the pandemic.
Recently, a report by Counterpoint Research said that Realme slipped to fourth place in 2022, with a 14% YoY decline due to higher exposure to the sub-Rs 10,000 segment. Xiaomi, despite slipping to third place in Q4 2022, held the top spot in India’s smartphone shipment list in 2022 with a 24% YoY decline.
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