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The Latest Breaking News from Xiaomi

China asks India to conduct lawful investigations after Xiaomi allegations

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

The Hindu

HC allows Xiaomi India to operate bank accounts only for day-to-day activities

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

The Hindu

Drone Giant DJI's Russia Halt Pressures Other China Big-Techs

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

Benzinga

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Leading Chinese Smartphone Invites Regulatory Scrutiny In India, Shares Drop In Hong Kong

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…

Benzinga

ED seizes ₹5,551 cr. of Xiaomi Technology India under FEMA

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

The Hindu

India seizes $725 million from Chinese company Xiaomi

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

The Independent UK

Enforcement Directorate seizes ₹5,551 crore deposits of smartphone giant Xiaomi Technology India under FEMA

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

The Hindu

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Best budget smartphones that don’t miss out on functionality

Sub-£400 phones with all the bells and whistles you need

Evening Standard

Xiaomi 12 Pro review: ultra-fast-charging Android phone

Great screen, top performance, good camera and fully charges in 20 minutes – but it’s no match for Samsung

The Guardian - UK

BRICS meet likely in June, India to attend China-hosted event

Delhi’s confirmation comes weeks after visit of Chinese Foreign Minister Wang Yi

The Hindu

Xiaomi global VP Manu Jain appears before ED in FEMA case

NEW DELHI/BENGALURU: Manu Kumar Jain, the global vice-president of Chinese mobile manufacturing company Xiaomi, on Wednesday appeared before the Enforcement Directorate in connection with alleged contravention of the foreign exchange law, officials said.

The Times of India

ED summons former India head of Xiaomi Manu Kumar Jain in FEMA case

The inquiry under the Foreign Exchange Management Act pertains to foreign remittances of about ₹1,000 crore.

The Hindu

'ED summons former Xiaomi head in investigation'

NEW DELHI: The Enforcement Directorate (ED) has summoned Manu Kumar Jain, a former head of Xiaomi Corp's India operations, in connection with a probe into the company's compliance with foreign exchange laws, the news agency Reuters reported on Tuesday quoting two sources.

The Times of India

Here's Why Apple Could Shine Amid China's Covid Resurgence

China's recent surge in Covid cases jeopardizes the leading smartphone market, while Apple Inc (NASDAQ: AAPL) could still shine, analysts told CNBC. China reported over 20,000 Covid infections leading to a countrywide lockdown hindering logistics and consumer spending. China tried to keep the factories running to reduce disruption. Also Read: Apple iPhones Led Smartphone Sales As 5G…

Benzinga

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Caixin Global

CSRC Denies Rumors of Restrictions on IPOs by Xiaomi-Linked Companies

In response to social media reports, top securities regulator says it isn’t standing in the way of share sales by businesses where the smartphone giant has investments

Benzinga

Chinese Watchdog Denies Regulatory Probe On Companies Related To Xiaomi

China's securities watchdog denied rumors of a regulatory probe on companies in Xiaomi Corp's (OTC:XIACY) industrial chain or restrictions on their listing plans, Reuters reports. The China Securities Regulatory Commission looked to continue to inspect initial public offering plans according to relevant rules and regulations. Also Read: Here's How Alibaba's Buyback Boost Could Win…

Evening Standard

Best smart scales

As personal health exploration grows, smart scales are becoming an essential. Stuart Pritchard weighs in on which to put your feet on and your faith in…

Benzinga

Why Alibaba, Tesla Rivals Nio, Xpeng Are Spiking Again In Hong Kong Today

Shares of U.S.-listed Chinese tech companies traded notably higher in Hong Kong on Wednesday following upbeat quarterly earnings results from companies such as smartphone maker Xiaomi Corp. and biotechnology company WuXi Biologics.

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Benzinga

Zepp Health Trails Q4 Consensus Due To Lower Mi Band Shipments; Declares Special Cash Dividend

Zepp Health Corp (NYSE:ZEPP) reported a fourth-quarter FY21 revenue decline of 15.8% year-on-year to $260.8 million, missing the consensus of $294.2 million. The decrease in Mi band shipments mostly drove the reduction. COVID-19 and the semiconductor crisis during the holiday season affected the self-brand product sales. Margin: The gross margin expanded 30 bps to…

Newslaundry

Xiaomi 11i Hypercharge Review: A one-trick pony, but it’s one hell of a trick

Xiaomi is a company that aims to be all things to all people. Its array of non-phone ventures apart, even within the smartphone market, it offers models from as low as Rs 7,499 to as expensive as Rs 79,999.

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