Xiaomi, one in all China’s high-profile tech corporations that fell within the crosshairs of the Trump administration, has been faraway from a U.S. authorities blacklist that designated it as a Communist Chinese Military Company.
In February, Xiaomi sued the U.S. authorities over its inclusion within the navy blacklist. In March, the D.C. courtroom granted Xiaomi a preliminary injunction in opposition to the DoD designation, which might have forbidden all U.S. individuals from buying or possessing Xiaomi’s securities, saying the choice was “arbitrary and capricious.” The ruling was made to forestall “irreparable hurt” to the Chinese phone maker.
Xiaomi has this to say about getting off the blacklist:
The Company is grateful for the belief and help of its world customers, companions, workers and shareholders. The Company reiterates that it's an open, clear, publicly traded, independently operated and managed company. The Company will proceed to offer dependable client electronics services to customers, and to relentlessly construct wonderful merchandise with trustworthy costs to let everybody on the planet take pleasure in a higher life by way of revolutionary know-how.
Xiaomi’s home competitor Huawei remains to be scuffling with its inclusion within the U.S. commerce blacklist, which bans it from accessing crucial U.S. applied sciences and has crippled its smartphone sales around the globe.
Source : TechCrunch
Originally posted 2021-05-26 04:07:07.