Xiaomi is exempt from US sanctions. The Chinese smartphone maker ‘Xiaomi’ was blacklisted in January 2021, preventing it from doing business with American investors. Xiaomi and the government have now come to terms.
Donald Trump put 11 Chinese firms on a blacklist just days before his presidency ended. These 11 companies were suspected of providing technology to the People’s Republic of China’s army and posing a national security threat to the United States. Xiaomi is one of these Chinese companies.
The Chinese gaint, which has recently surpassed the United States as the world’s third largest mobile market, was in danger of losing its many American investors. Xiaomi moved swiftly to get the restraining order reversed in court. A court in Washington, DC, ruled in favour of the Chinese producer two months later, suspending the penalties temporarily.
Simultaneously, Xiaomi managed to deal with the US government, which was now under the influence of Joe Biden. The Biden administration have reportedly reached an understanding, according to reports from Bloomberg. The Ministry of Defence concluded in a report to the courts that an order to quash the sanctions was now “appropriate.”
The report said, “The parties have agreed on a way forward that would resolve this dispute” . Regrettably, the terms of this arrangement remain a mystery. By May 20, 2021, a consensus should be declared. Xiaomi’s stock rose in Hong Kong as a result of the launch, which was unsurprising. The stock market increased 6.71 percent during the day.
Nonetheless, a rumour claims that Xiaomi is becoming concerned about potential American sanctions. According to a YouTube video, the company has created a MIUI overlay based on HarmonyOS instead of Android.
Is Xiaomi going to leave Android in fear of being stripped of its Android permits, as Huawei was? Feel free to comment in the section below as you wait for more updates.