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.


Popular posts from this blog

How, Where To Stake XRP? Is It Profitable?

How Can You Buy and Stake Shiba Inu Coin?

Where to Buy and Get Free Hedera Hashgraph ( HBAR )