US Presidential Administration made Xiaomi on the sanctions list. The company is suspected of close cooperation with the PRC military. In addition to Xiaomi, nine more Chinese organizations were included in this list.
The US authorities ranked Xiaomi as a “communist Chinese military company.” Unlike Huawei, no serious restrictions have been imposed on this company, it can still purchase components for smartphones (including Snapdragon processors) in the US and license Android with Google services.
The restrictions mainly affect investment activities: American investors are prohibited from investing in Huawei, and by November 11, 2021, they must get rid of previously purchased shares of the company. This could lead to a drop in the value of shares and a decrease in the market capitalization of Xiaomi.
According to a Xiaomi representative, the inclusion in the sanctions list did not affect the company’s activities in any way, it works as usual. Xiaomi is currently exploring ways to help protect investors and keep stocks from falling.
Source: iGuides.ru by www.iguides.ru.
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