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The Latest Breaking News from Xiaomi

China Q2 Smartphone Sales Fall 14.2% Y/Y as Consumers Pull Back

Chinese smartphone sales in April-June fell 14.2% on year and volumes hit a decade low, Counterpoint Research said on Wednesday, as China struggles to recover from the impact of COVID-19 lockdowns and the industry braces for more uncertainty. Quarterly sales volumes were 12.6% lower than those seen in the first…

Asharq Al-Awsat

After Ho-Hum Pricing, AMTD Digital Storms Out of the Gate in U.S. Trading Debut

Key Takeaways:

Benzinga

Explained | Why is the ED looking into the operations of Chinese smartphone maker Vivo?

The central agency has claimed to have found Vivo-linked companies with forged shareholder identities, creation of shell companies, and remittance to China to show losses in India

The Hindu

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China's big tech problem: even in a state-managed economy, digital companies grow too powerful

China’s digital economy has advanced rapidly over the past two decades, with services, communications and commerce moving online.

The Conversation

Best Amazon Prime Day mobile phone deals 2022: Apple, Samsung, Google and more

Looking for a new gadget? Upgrade and get your hands on a new smartphone this Amazon Prime Day

Daily Mirror

Seizure of ₹5,551.27 crore of Xiaomi India: HC directs competent authority under FEMA to decide the issue in 60 days

The amount has been seized in the bank accounts of Xiaomi Technology India Pvt. Ltd. for transferring crores of rupees to companies abroad as royalty in violation of the law

The Hindu

Xiaomi 12 Pro review: Top-tier chipset, smooth screen, excellent cameras, but is it a true flagship?

What is a flagship? Just a few years ago, the answer to this was easy. Every year, Apple had one iPhone, Samsung had a Galaxy and Note, and there was the ‘flagship killer’ from OnePlus and a comparable model from Xiaomi. All these used whatever was the top of the…

Newslaundry

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Geely Acquires Major Stake in Smartphone Maker Which Has Alibaba Connection

Billionaire Li Shufu controlled satellite-to-automobile group Geely Automobile Holdings Ltd (OTC:GELYY), purchased a majority stake in Chinese smartphone maker Meizu Technology Co, the Caixin Global reports. Geely's Hubei Xingji Shidai Technology Co division bought a 79% stake in Meizu from Meizu's founder and a unit of Alibaba Group Holding Limited (NYSE:BABA). The financial terms of…

Benzinga

Gadgets: Xiaomi Mi Band 7 to launch on May 24

Xiaomi confirmed the launch of its Mi Band 7 on May 24, the same day as the Redmi Note 11T series. Read more on Dynamite News:

Dynamite News

Facing Double Whammy in India, Will Xiaomi Look Home for Comfort?

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

Benzinga

Xiaomi 12 Pro review: One of the best smartphones of 2022 so far

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

Irish Mirror

Xiaomi 12 review: The best compact smartphone you can currently buy in Irish stores

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

Irish Mirror

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

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Benzinga

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

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…

The Hindu

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 Independent UK

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

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news in one place.

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The Hindu

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

Evening Standard

Best budget smartphones that don’t miss out on functionality

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

The Guardian - UK

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 Hindu

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 Times of India

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 Hindu

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 Times of India

'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.

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