Chinese smartphone maker Xiaomi Corp has alleged its top executives faced threats of “physical violence” and coercion during questioning by India’s financial crime fighting agency, according to a court filing seen by Reuters. Officials from the Enforcement Directorate warned the company’s former India managing director, Manu Kumar Jain, current Chief Financial Officer Sameer B.S. Rao, […]
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An Indian court has put on hold a federal enforcement agency’s decision to seize $725 million from local bank accounts of China’s Xiaomi Corp for suspected violations of foreign exchange laws, two sources told Reuters on Friday. The Enforcement Directorate last week seized the bank assets of Xiaomi Technology India Private Limited, saying it had […]
Looks like Facebook’s Ray-Bans smart glasses collaboration is facing fierce competition. Xiaomi has recently announced a pair of smart glasses under the name of “Xiaomi Smart Glasses.” According to the company, it will not just be a second screen for your phone. The device has a multitude of AR features, unlike Facebook’s Ray-Bans’ own smart […]
Xiaomi reported second-quarter revenues up 64 percent year-on-year to a record CNY 87.8 billion, as its smartphones continue to gain market share around the world. Adjusted net profit jumped 87 percent to CNY 6.3 billion in the period. In the second quarter of 2021, Xiaomi’s total revenue amounted to 87.8 billion yuan ($13.6 billion), higher […]
Chinese budget smartphone maker Xiaomi is set to raise around $1.2 billion from debt issuance, with $800 million worth of bonds due for payment in 2031 with a coupon of 2.87 percent per year, a regulatory filing said. The move comes at a tricky time as other Chinese tech companies have seen themselves pitted in a government crack down led […]
Xiaomi Corp. reported a 37 percent increase in quarterly profit as China’s top smartphone maker took advantage of Huawei Technologies Co.’s retreat to consolidate its lead in the market. According to Bloomberg, adjusted net income was $491 million in the December quarter, beating the analysts’ average estimate of $442 million. “Profit included one-time gains on […]
A U.S. federal judge rolled back on a Department of Defense ban on investments in Chinese budget smartphone maker Xiaomi, citing insufficient evidence that the company posed a national security threat. On Friday, U.S. District Judge Rudolph Contreras said that the court had found the Department of Defense (DoD) had “not made the case that […]
Budget smartphone manufacturer Xiaomi has filed a lawsuit against the U.S. government, seeking its removal from Washington’s blacklist of alleged Chinese Military companies. The company’s designation on the list places it under an executive order that restricts U.S. investors from purchasing any shares or stakes from it. In response, Xiaomi filed a lawsuit on Friday […]
The U.S. government has blacklisted Chinese smartphone maker Xiaomi Corp. and China’s third-largest national oil company for alleged military links, heaping pressure on Beijing in President Donald Trump’s last week in office. The Department of Defense added nine companies to its list of Chinese companies with military links, including Xiaomi and state-owned plane manufacturer Commercial […]
In the first quarter (Q1) of 2024, Apple’s smartphone distribution witnessed a decrease of approximately 10%, as reported by IDC on Sunday.