The Latest Breaking News from Xiaomi

Key Takeaways: Xiaomi has been accused of tax evasion in India, though the company claims its activities complied with local laws Ban of company’s local apps is dealing a second blow to Xiaomi in India, leading some to predict it could switch its focus back to its home Chinese market

Newly launched in Ireland, top Chinese brand Xiaomi takes on Apple and Samsung with its 2022 flagship smartphone

High-end specs include the Snapdragon 8 Gen 1 chip, AMOLED screen with 120Hz refresh rate and superfast 67W charging

Xiaomi, in a court filing, claimed that its officials were threatened with consequences if they did not submit compliant statements, allegations that the ED has rejected

ED had on April 29 seized ₹5,551.27 crore of the company for alleged violation of FEMA provisions

Key Takeaways: DJI has halted its Russia and Ukraine business and will reassess requirements in different legal jurisdictions, following wide-ranging western sanctions on Russia Other Chinese companies facing similar dilemmas include Alibaba, Lenovo, Huawei and Xiaomi By Tina Yip

Xiaomi Corp (OTC:XIACY) (OTC:XIACF) shares lost steam in Hong Kong after India’s Enforcement Directorate alleged the second-largest smartphone vendor of “illegal remittances” and seized ~$730 million, the Financial Times reports. India’s anti-money laundering and foreign exchange crime division alleged Xiaomi’s Indian subsidiary of sending $55.51 billion ($725 million) of foreign currency payments…

Amount was sent to three foreign–based entities in the guise of royalties, says agency

Indian authorities have seized $725 million from Chinese smartphone company Xiaomi, accusing it of breaking the country’s foreign exchange laws by making illegal remittances abroad

Indian authorities have seized £577 million from Chinese smartphone company Xiaomi, accusing it of breaking the country’s foreign exchange laws by making illegal remittances abroad.

New Delhi (AFP) - India seized $725 million from the local bank accounts of Xiaomi after a probe found the Chinese smartphone giant unlawfully sent money abroad in the guise of royalty payments, authorities said Saturday.