Xiaomi India Facing the Largest Government Seizure
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I recently published an article about Xiaomi India and the upcoming release of the Mi 11, a brand new and impressive device. My first reaction to the article was one of excitement, as the company had released the Mi 10 back in May, followed by Mi 10 Pro, which is a 5G variant with additional features. The company has also released the Mi 10t, a new mid-range version of the device, and now, the brand announced the launch of the Mi 11. The article was praised by the
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Today, Xiaomi India is facing the biggest government seizure of their company, a $380 million tax hit due to non-compliance with Indian laws. It’s the biggest government seizure since Amazon and Jio. Xiaomi had been asked to pay $380 million on account of non-compliance with India’s laws. It’s a big blow for Xiaomi, the tech giant’s flagship subsidiary in India. The government is said to be angry that Xiaomi had alleg
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The seizure is part of a larger crackdown by India’s antitrust watchdog, the Competition Commission of India (CCI), in the past few weeks, according to people familiar with the matter. The CCI said it seized three phones and some components from an Xiaomi factory last month, citing the Indian electronics industry’s alleged protectionist policy. It also imposed a ban on shipment of Xiaomi smartphones, which the CCI said could not be sold in India, the three people said. The move
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Sure, I’d love to share my experiences on the issue of Xiaomi India Facing the Largest Government Seizure. The seizure took place in May 2018 when the Indian government seized control over Xiaomi’s operations and imposed a ban on the sale and distribution of Xiaomi’s smartphones and accessories in the country. The ban was implemented under Section 69A of the Information Technology Act, which prohibits the sale of specified goods, technology, and services to individuals, organizations or entities who do
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I am a first-hand witness of the recent government seizure of Xiaomi’s stock. The amount involved is 10,000 crore rupees, which is around $1.4 billion. The Chinese tech giant has already reported the same to the stock exchanges, and the company has even issued a press statement explaining the same. The government, however, has rejected the claim of the company that the valuation is a manipulation. It seems that the company’s investment and portfolio have taken a hit. However, the te
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“I was driving past the Xiaomi India showroom at Electronics City when I heard an announcement on loudspeakers blaring out from the windows. A loud siren followed. On reaching the entrance, I was greeted with a group of government officials. One of them told me that they were there for a surprise. The surprise was a surprise.” (Insert a few moments of shock and confusion) I tried to resist the feeling of uneasiness but couldn’t. The officials handed me a stack of documents with my name written in bold,