Xiaomi Group and the US Department of Defense have published a joint status report on the lawsuit filed by the Chinese company. In the documents, the US government admitted its own mistake, is ready to settle the issue with Xiaomi Group, and exclude the company from the military blacklist. Gizmochina writes this.
In January, the US government blacklisted nine Chinese companies, including Xiaomi, citing their “close ties to Chinese military services.”
Xiaomi Group filed a counterclaim against the US government, and in March, a federal judge barred the Department of Defense from restricting US investment in the Chinese manufacturer. US District Judge Rudolph Contreras supported Xiaomi-the company said that such a move was “willful and capricious” and deprived the company of due process rights.
American investors retained the right to buy Xiaomi securities. Then the court said that Xiaomi is likely to win the case. Xiaomi is the third-largest smartphone manufacturer in the world in terms of gadget shipments, just behind Samsung and Apple. The initial announcement of Xiaomi’s blacklisting reduced its market share by $ 10 billion, and in January, the company’s shares fell by 9.5%.