Xiaomi blacklisted by the US Department of Defense. So, the Chinese companies are facing some real heat in the two biggest countries India and the US. India has been aggressively banning Chinese Apps. Today, in a Major blow US Department of Defense has blacklisted Xiaomi. There’s a new list of 9 companies including Xiaomi. Xiaomi was the world’s third-largest smartphone maker as of Q3 last year. Coming ahead of Apple and trailing behind Samsung and Huawei, according to market researcher IDC.
In November, President Donald Trump signed an executive order, which was set to take effect in January, to bar investment in companies designated as supporting efforts of China’s military, intelligence, and security apparatuses. Huawei, China’s major chipmaker SMIC, and the country’s three largest telecoms operators are among the targets of the list.
The military blacklist is different from the Commerce Department’s entity list, which famously cuts Huawei, DJI, SenseTime, and other Chinese tech firms off their U.S. suppliers over national security concerns. As reported by TechCrunch.
Tweet by Xiaomi a few hours ago and had clarified:
— Xiaomi (@Xiaomi) January 15, 2021
Xiaomi is listed in Hong Kong, and the executive order could force American investors to divest their holdings in the phone maker, whose shares tumbled more than 11% to $29 apiece on the blacklist announcement.. Xiaomi has been a lot aggressive this year and is the first to release the New Snapdragon 888 equipped Smartphone Mi 11.