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Home Social Media US Bans Xiaomi After Declaring it a Chinese Military Company

US Bans Xiaomi After Declaring it a Chinese Military Company

Fahad Khan by Fahad Khan
January 16, 2021
in Social Media
Reading Time: 2 mins read
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The US bans Xiaomi that too in just the last few days of Trump’s administration in office. The administration has declared the company as a “Chinese military company.”

US Bans Xiaomi!

After Huawei, Xiaomi is the second biggest company to join the list of US blacklisted companies. Simultaneously, other blacklisted Chinese companies belong to the aviation, nuclear energy, semiconductor, and infrastructure industries.

What does this ban mean for consumers?

The ban would stop the sale or investing any money in buying products for the end-user. The united states government will also stop cellular companies not to sell their service with Xiaomi smartphones.

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us ban xiaomi in america
The Business Times

Furthermore, the Americans are now banned from investing in Xiaomi Corp. shares on the stock market.

Xiaomi Corp. focuses on the manufacturing of smartphones, smartwatches, speakers, headphones, and home appliances. Xiaomi’s stock price has doubled in the US stock market in the past 12 months.

Reply by Xiaomi

A blog post published on Xiaomi’s official website has confirmed that the company is neither controlled nor owned or affiliated with the Chinese military.

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xiaomi stock price
Currency/Shutterstock

Adding more to the statement, the company assured that it has been in compliance with the law and the operating compliance with the laws of the business’s jurisdiction in every region.

This is to be noted that Xiaomi being on the blacklist doesn’t mean that the US companies can not do business with Xiaomi, as in Huawei. Despite being on this list, Huawei is also on the “US Entity List,” which makes US companies not to have any business with Huawei. However, Xiaomi is not yet on the US Entity List.

Xiaomi confirms that it is a consumer-oriented company and is different from Huawei and its operations. As Joe Biden is taking the oath on January 20th, Xiaomi can hope that the new administration will lift the ban and revert their decision.

Tags: ChinaUSXiaomi
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