Xiaomi Blacklisted – Accused of Being a “Communist Company Controlled by the Chinese Army”

The U.S. government blacklisted Chinese smartphone maker Xiaom, calling it a “communist company controlled by the Chinese military”. In practice, this means that US companies and investors will be banned from investing in Xiaom, GSMArena says. Those who have already invested in the company must give up their investments by November 2021.

However, the blacklist faced by Xiaom is not the same, which destroyed Huawei’s smartphone market globally. The ban Huaweni faced was much more complicated. As a result, all U.S. and U.S. technology companies were banned from cooperating with Huawei.

Xiaomi responded to the charges by saying he complied with laws and regulations in places where the company has been in business. The company says it manufactures equipment for civilian use, and bans all connections to the Chinese military.

The fate of blacklisted Chinese companies will be seen when Biden takes office. There is no certainty as to what will happen to companies, but there are many opportunities.

Source: Tivi by www.tivi.fi.

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