Tag: xiaomi india

Xiaomi to Slash Smartphone Line After Conceding India Missteps
Technology

Xiaomi to Slash Smartphone Line After Conceding India Missteps

[ad_1] Xiaomi Corp. plans to focus on 5G smartphones and a leaner product portfolio in India, trying to claw back market share lost to rivals including South Korea's Samsung Electronics Co. in its second-biggest market.China's Xiaomi held the smartphone lead in India for years before regulatory headaches and a too-vast product portfolio — which by its own admission confused customers — led to its decline. In the quarter to March, Xiaomi ranked fourth behind Samsung, Oppo, and Vivo in India's smartphone market, according to researcher IDC Corp. India is one of the most intensely contested markets for the world's biggest phone brands, with companies such as iPhone maker Apple Inc. pushing to boost sales in the planet's most populous country. Xiaomi is betting on a gradual recovery, deepen...
Xiaomi Sources More Production in India Amid Regulatory Scrutiny
Technology

Xiaomi Sources More Production in India Amid Regulatory Scrutiny

[ad_1] Xiaomi Corp. is deepening local sourcing in India, where the Chinese smartphone company seeks to regain market share it lost amid heightened regulatory scrutiny and stiff competition.Xiaomi contracted homegrown Optiemus Electronics Ltd. to make its bluetooth neckband earphones — the first time an Indian supplier will make an audio product for the Beijing-based tech giant, Muralikrishnan B, president of Xiaomi India, said in an interview. “This marks our entry into a whole new set of categories,” Muralikrishnan said late last week at an Optiemus factory in the Noida suburb of Indian capital New Delhi. “We see this as a milestone, as further proof of our commitment to making in India.” Xiaomi led India's smartphone market for years, but allegations of money laundering and increased...
Top Xiaomi India Executive Resigns Just as Challenges Mount
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Top Xiaomi India Executive Resigns Just as Challenges Mount

[ad_1] One of Xiaomi Corp.’s top executives in India is leaving the smartphone maker just as it faces intensifying regulatory scrutiny and competitive pressure in the country. One of Xiaomi Corp.'s top executives in India is leaving the smartphone maker just as it faces intensifying regulatory scrutiny and competitive pressure in the country. Chief Business Officer Raghu Reddy, who helped the Chinese company to the top of India's smartphone and smart-television markets, resigned to “pursue different growth opportunities externally,” Xiaomi India said in an email on Wednesday. “It has been a privilege to have Raghu as an integral part of the Xiaomi India leadership team,” it said. Reddy, who is currently serving notice, didn't respond to a WhatsApp message seeking comment. Xiaom...
India says Xiaomi misled Deutsche Bank on ‘illegal’ royalty payments
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India says Xiaomi misled Deutsche Bank on ‘illegal’ royalty payments

[ad_1] Xiaomi has locked horns with India's financial crime fighting agency, the Enforcement Directorate, since it froze $670 mn of the company's bank assets. Indian investigators have alleged Chinese smartphone maker Xiaomi Corp's India unit misled its banker Deutsche Bank AG for years by claiming it had an agreement for payment of royalties when it had none, legal documents showed.Xiaomi has locked horns with India's financial crime fighting agency, the Enforcement Directorate, since it froze $670 million of the company's bank assets saying a probe found the smartphone seller made "illegal remittances" to U.S. chip firm Qualcomm and others in the "guise" of royalties. Xiaomi denies wrongdoing and approached an Indian court arguing its payments were legitimate and that the assets fre...
After crackdown, Xiaomi to flee India for Pakistan? Chinese company reacts
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After crackdown, Xiaomi to flee India for Pakistan? Chinese company reacts

[ad_1] Xiaomi has slammed the allegations that it might be moving all its India operations to Pakistan in a Twitter post and called it “completely false and baseless”. Earlier this week, reports claimed that Xiaomi might move its operations from India to Pakistan. The reports emerged amid a crackdown by the Enforcement Directorate where the Indian government froze Xiaomi's assets worth $676M for allegedly violating Foreign Exchange Management Act (FEMA) guidelines. However, the smartphone maker has responded to the allegations in a Twitter post and has said that any reports suggesting the company's move are “completely false & baseless”. The official Twitter handle of Xiaomi gave the statement while responding to a tweet by South Asia Index.South Asia Index cited sources for its t...
Historic setback for China! India orders biggest fund seizure ever- Xiaomi’s 5551 crore
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Historic setback for China! India orders biggest fund seizure ever- Xiaomi’s 5551 crore

[ad_1] The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over ₹5551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi -- the highest amount frozen till date in India -- the ED said Friday. The agency charged the popular Chinese phone maker with remitting foreign currency equivalent to ₹5,551.27 crore to three entities -- one Xiaomi Group company and two US-based unrelated entities -- in the guise of royalty. The Enforcement Directorate (ED) had first issued the order of seizure of these bank deposits on April 29 under the FEMA and later sent it for approval of the competent authority, as required under the law that regulates foreign exchange violations in the country. "The competen...
Wow! Xiaomi to re-launch the Redmi Note 10S as Redmi Note 11 SE in India
Technology

Wow! Xiaomi to re-launch the Redmi Note 10S as Redmi Note 11 SE in India

[ad_1] Xiaomi will now re-launch the Redmi Note 10S as the Redmi Note 11 SE in India. Here is everything you need to know about it. Nobody knows rebranding as good as Xiaomi – one phone becomes a Redmi in China and then launches as a Xiaomi phone in India, or a Poco phone. However, Xiaomi India is now going to do the bare minimum to launch a “new” smartphone in a few days' time. Do you remember the Redmi Note 10S from 2021? Xiaomi India is now going to re-launch the same phone in India as the Redmi Note 11 SE. The only “new” thing in the Redmi Note 11 SE is the name itself – the rest of the specifications and feature set seems to remain exactly the same.The price of the Redmi Note 11 SE is yet to be revealed but Xiaomi has re...
Wow! Xiaomi to re-launch the Redmi Note 10S as Redmi Note 11 SE in India
Technology

Wow! Xiaomi to re-launch the Redmi Note 10S as Redmi Note 11 SE in India

[ad_1] Xiaomi will now re-launch the Redmi Note 10S as the Redmi Note 11 SE in India. Here is everything you need to know about it. Nobody knows rebranding as good as Xiaomi – one phone becomes a Redmi in China and then launches as a Xiaomi phone in India, or a Poco phone. However, Xiaomi India is now going to do the bare minimum to launch a “new” smartphone in a few days' time. Do you remember the Redmi Note 10S from 2021? Xiaomi India is now going to re-launch the same phone in India as the Redmi Note 11 SE. The only “new” thing in the Redmi Note 11 SE is the name itself – the rest of the specifications and feature set seems to remain exactly the same.The price of the Redmi Note 11 SE is yet to be revealed but Xiaomi has re...