Xiaomi Denies its Association With the Chinese Military Sector
By Deya Hroob
Xiaomi, one of the
largest smartphone manufacturers in China, responded to the Pentagon adding it
to its list of companies linked to the military sector in China. In a statement
today, Friday, the Chinese company Xiaomi denied its association with the
military industry in China, and said that it would take steps to protect its
interests and the interests of its shareholders, in response to the US
sanctions.
The company confirmed
that it carries out activities in accordance with the law and rules in force,
and that it respects the laws in places where its activities are carried out,
stressing that its services and products are used in the civil and commercial
fields.
Xiaomi indicated that it is not owned,
controlled or affiliated with the Chinese military industry, nor is it a
Chinese military company that is subject to the US National Security Act.
The Pentagon press
service reported yesterday that the US Department of Defense has expanded the
list of Chinese companies operating in the United States and associated, in
Washington’s terms, with the Chinese military industry, as nine other entities
have been added to the list, including Xiaomi.
Xiaomi was founded in
April 2010, and is currently one of the four largest smartphone manufacturers
in the world, and in 2018 the company implemented an initial public offering of
its shares on the Hong Kong Stock Exchange.
During the past year, the
company's share rose by 180%, and at the end of December of last year, the
company's market value exceeded the level of $ 100 billion, for the first time.
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