Straits Times Index
3,230.55 +21.37 (+0.67%) Nikkei
26,781.68 +176.84 (+0.66%) Hang Seng
20,697.36 +581.16 (+2.89%) FTSE 100
7,585.46 +20.54 (+0.27%) BTC-USD
28,967.68 +125.62 (+0.44%) CMC Crypto 200
625.79 -3.71 (-0.59%)
Xiaomi Corporation (1810.HK)
- Financial Times
Xiaomi battles law enforcement and competition in India
As the managing director who brought smartphone vendor Xiaomi to India in 2014, Manu Kumar Jain was the face of the Chinese-owned company. Under Jain, Xiaomi’s rise was swift. It jumped from 6 per cent of India’s smartphone market in 2016 to 27 per cent three years later, beating Indian brands and South Korea’s Samsung and paving the way for other Chinese marques.
- Financial Times
China’s Xiaomi, Vivo and Oppo trim smartphone orders by 20%
China’s leading smartphone makers have told suppliers to scale back orders for the coming quarters by around 20 per cent from previous plans following month-long Covid-19 lockdowns that have severely disrupted supply chains and battered consumer confidence, Nikkei Asia has learned. Xiaomi, China’s biggest smartphone maker and the third biggest globally, has told suppliers that it will lower its full-year forecast to around 160mn to 180mn units from its previous target of 200mn, sources briefed on the matter said. Xiaomi shipped 191mn smartphones last year and is aiming to become the world’s leading smartphone maker.
- Reuters
Treat Chinese firms fairly, Beijing tells India after Xiaomi's threat claim
BEIJING/NEW DELHI (Reuters) -China on Monday urged India to ensure Chinese companies operating in India are not discriminated against, after Xiaomi Corp said its executives there had faced threats of violence during questioning over alleged illegal remittances. Reuters reported on Saturday that Xiaomi, the biggest smartphone seller in India, had outlined the alleged threats of physical violence and coercion from officials of India's Enforcement Directorate - which tackles financial crime - in a filing to an Indian court.
