Under the Trump administration, the US government blacklisted Xiaomi on the account of accusing the latter of having ties with the Chinese military. This would have prevented American investments in the Chinese-origin company and could have created further troubles. However, both the parties have now reached an agreement, where Xiaomi is no more blacklisted.

The report comes from Bloomberg, wherein it states, “The Parties have agreed upon a path forward that would resolve this litigation without the need for contested briefing.” However, there’ no mention of whether the agreement included any conditions for removal. “The parties involved are negotiating over specific terms and will file a separate joint proposal before May 20,” says the report.

Xiaomi not blacklisted by US Govt

“The Biden Administration is deeply concerned about potential U.S. investments in companies linked to the Chinese military and fully committed to keeping up pressure on such companies,” said Emily Horne, a spokeswoman for the White House National Security Council.

Mi 11X, Mi 11X Price in India, Mi 11X Specifications, Mi QLED TV 75, Mi QLED TV 75 Price in India, Mi QLED TV 75 Specifications, Xiaomi

Back in January when the company faced blacklisting, Xiaomi took to the courts to make a case for itself. “The Company has been in compliance with law and operating in compliance with the relevant laws and regulations of jurisdictions where it conducts its businesses. The Company reiterates that it provides products and services for civilian and commercial use. The Company confirms that it is not owned, controlled or affiliated with the Chinese military, and is not a “Communist Chinese Military Company” defined under the NDAA. The Company will take appropriate course of actions to protect the interests of the Company and its shareholders,’ said Xiaomi at the time.

In March, the US court sided with Xiaomi in the lawsuit and asked the government to halt the ban. With a change in the government, the parties have now reached an agreement, with the US government withdrawing its move.

The move will be helpful for Xiaomi to enter the US smartphone market. The company has been among the top smartphone manufacturers in China, India and Europe. In fact, Xiaomi enjoys an unprecedented market lead in India in the smartphone and smart TV space.

In India, Xiaomi is hosting another product launch today. The company will announce the Redmi Note 10S budget smartphone and a Redmi smartwatch in the country.

Go to Source

Leave a Reply

Your email address will not be published.