Enforcement Directorate To Probe Former Xiaomi Head Manu Jain: Report
2 years, 8 months ago

Enforcement Directorate To Probe Former Xiaomi Head Manu Jain: Report

News 18  

NEW DELHI: India's federal financial-crime fighting agency has summoned a former India head of China's Xiaomi Corp in an investigation of whether the company's business practices conformed with Indian foreign exchange laws, two sources with direct knowledge told Reuters. The Enforcement Directorate has been probing the company since at least February, and in recent weeks asked Manu Kumar Jain, Xiaomi's former India managing director, to appear before its officers, the sources said. India's Enforcement Directorate also did not respond, though the agency typically does not make details public while investigations are ongoing. The Enforcement Directorate, via a notice in February addressed to Xiaomi's Jain, asked for various company documents, the second source familiar with the developments said.

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History of this topic

Push towards premium is a journey, and we’ll persist: Xiaomi’s Muralikrishnan B
10 months ago

Push towards premium is a journey, and we’ll persist: Xiaomi’s Muralikrishnan B

Hindustan Times  

After successive tough few quarters that saw Xiaomi lose significant chunk of their market share, Muralikrishnan B, president of Xiaomi India, decided in July 2023 that it was time for a no-compromise approach towards reconstructing the tech company’s India business. Xiaomi India president Muralikrishnan B “At the beginning of 2023, is when we realised a few things haven’t gone as …

Xiaomi says suppliers concerned over India's heavy scrutiny of Chinese firms
10 months, 1 week ago

Xiaomi says suppliers concerned over India's heavy scrutiny of Chinese firms

Hindustan Times  

China's Xiaomi has told New Delhi that smartphone component suppliers are wary about setting up operations in India amid heavy scrutiny of Chinese companies by the government, according to a letter and a source with direct knowledge of the matter. In the letter, Xiaomi India President Muralikrishnan B. said India needed to work on "confidence building" measures to encourage component …

2023 is the year for a reset, says Xiaomi India president Muralikrishnan B
1 year, 5 months ago

2023 is the year for a reset, says Xiaomi India president Muralikrishnan B

Hindustan Times  

It is not often that businesses have the luxury of choosing a moment in time to reconfigure focus areas and approach. Xiaomi’s India leadership is taking inspiration from the early days, which involved a much smaller number of phone models on sale that helped propel them to the number one position in smartphone shipments for many years. Make in India: …

ED issues showcause notice to Xiaomi India, 3 banks for alleged FEMA violations
1 year, 6 months ago

ED issues showcause notice to Xiaomi India, 3 banks for alleged FEMA violations

Hindustan Times  

The Enforcement Directorate on Friday said it has issued showcause notices to Xiaomi Technology India Pvt Ltd, its officials and three banks under the Foreign Exchange Management Act for alleged foreign exchange violation of more than ₹5,551 crore. Notices have also been sent to CITI bank, HSBC Bank and Deutsche bank AG for violation of Section 10 and 10 of …

Xiaomi aims export and localised component manufacturing with Dixon in India
1 year, 6 months ago

Xiaomi aims export and localised component manufacturing with Dixon in India

The Hindu  

Xiaomi is planning to extend its partnership with Dixon for mobile manufacturing aimed at exports. They apprised me about their partnership for manufacturing & exporting mobile phones from India and plans to invest… pic.twitter.com/m8O0hGMT6b — Rajeev Chandrasekhar 🇮🇳 May 30, 2023 “Xiaomi, which has built a strong brand equity over the years in India is known for its high quality …

Xiaomi to manufacture audio products in India now: Know more
1 year, 6 months ago

Xiaomi to manufacture audio products in India now: Know more

India TV News  

Xiaomi India has announced a strategic partnership with Optiemus Electronics Limited to bolster its "Make in India" initiative and expand its presence in the country's electronics industry. By leveraging the manufacturing expertise of Optiemus Electronics, Xiaomi aims to strengthen its foothold in India while contributing to economic growth and creating employment opportunities. With a focus on innovation accessible to all, …

Karnataka High Court Rejects Xiaomi's Petition Challenging Seizure Of ₹5551.27 Crore By Enforcement Directorate, Upholds S.37A FEMA
1 year, 8 months ago

Karnataka High Court Rejects Xiaomi's Petition Challenging Seizure Of ₹5551.27 Crore By Enforcement Directorate, Upholds S.37A FEMA

Live Law  

The Karnataka High Court on Friday rejected the petition filed by Xiaomi India challenging an order passed by the Competent Authority appointed under the Foreign Exchange Management Act,1999, confirming the order issued by the Enforcement Directorate seizing Rs.5,551.27 crores of the company. The High Court observed, "Challenge to the Constitutional validity of Section 37A of the Act by the petitioner …

India smartphone market dip 27% in Q4; entry-level, sub-₹ 25,000 segment most hit
1 year, 10 months ago

India smartphone market dip 27% in Q4; entry-level, sub-₹ 25,000 segment most hit

The Hindu  

Smartphones shipments in India plunged by over 27% to 29.6 million in the October-December quarter of 2022, from 40.6 million in the year-ago period, mainly due to inflationary pressures, market research firm IDC said on Friday. IDC India, Research Manager, Client Devices, Upasana Joshi said dearth of new launches in sub-$150 smartphone segment limited its growth. According to IDC Associate …

Xiaomi Global VP Manu Jain Quits; Read His 'GoodBye' Letter
1 year, 10 months ago

Xiaomi Global VP Manu Jain Quits; Read His 'GoodBye' Letter

News 18  

Xiaomi Global Vice-President Manu Kumar Jain has decided to move on from the Xiaomi Group, as confirmed with his letter on day. Manu Jain has been a big part of Xiaomi’s success in India since its debut back in 2014 as he helped the company climb up the market ladder to become the no.1 smartphone brand for the longest time. …

Xiaomi Global VP Manu Kumar Jain calls it quits
1 year, 10 months ago

Xiaomi Global VP Manu Kumar Jain calls it quits

The Hindu  

January 30, 2023 06:32 pm | Updated 06:42 pm IST Manu Kumar Jain on Monday announced his departure from Xiaomi, ending his nine-year association with the Chinese brand. Mr. Jain was the face of Xiaomi India before he quietly moved base to Dubai to serve as Global VP in July 2021, amid rising pressures on the company’s finances by law …

Karnataka High Court Reserves Decision On Xiaomi's Petition Challenging Seizure of ₹5551.27 Crore By Enforcement Directorate
2 years, 1 month ago

Karnataka High Court Reserves Decision On Xiaomi's Petition Challenging Seizure of ₹5551.27 Crore By Enforcement Directorate

Live Law  

The Karnataka High Court on Wednesday reserved its decision on the petition filed by Xiaomi Technology India Private Limited challenging the order passed by the Competent Authority appointed under the Foreign Exchange Management Act,1999, confirming the order issued by the Enforcement Directorate seizing Rs.5551.27 crores of the company. Further questioning the locus standi of the petitioner company in challenging the …

Xiaomi leads the Indian smartphone market followed by Samsung: Report
2 years, 2 months ago

Xiaomi leads the Indian smartphone market followed by Samsung: Report

Live Mint  

Smartphone major Xiaomi continues to dominate the Indian smartphone market. According to a report by Canalys, the company has a market share of 21% during Q3, 2022, shipping 9.2 million units. The report further states that India’s smartphone shipments in Q3, 2022 were 44.6 million units, a 6% decline from the previous year. “Early Monsoon and Independence Day online sales …

Xiaomi posts 20% revenue fall, hurt by China COVID-19 curbs
2 years, 4 months ago

Xiaomi posts 20% revenue fall, hurt by China COVID-19 curbs

The Hindu  

Chinese smartphone maker Xiaomi Corp. posted a steep drop in second quarter revenue on Friday as the world's biggest smartphone market shrank, hit by strict COVID restrictions. Sales fell 20% year on year to 70.17 billion yuan, missing estimates and marking a steeper decline from the previous quarter, when the company posted its first-ever revenue drop since listing. Data this …

Xiaomi India's Challenge To Seizure Of Assets Before High Court 'Premature'; Competent Authority Under FEMA Must Decide: Karnataka HC
2 years, 5 months ago

Xiaomi India's Challenge To Seizure Of Assets Before High Court 'Premature'; Competent Authority Under FEMA Must Decide: Karnataka HC

Live Law  

The Karnataka High Court on Tuesday directed the Competent Authority appointed under the Foreign Exchange Management Act,1999 to issue a notice of hearing to M/s Xiaomi Technology India Pvt Ltd and hear the parties concerned and pass appropriate orders in regards to the challenge raised by the company on the order passed by the Enforcement Directorate, seizing Rs.5551.27 crores. Senior …

Xiaomi India Announces Major Changes In Leadership Amidst Ongoing Money Laundering Investigation
2 years, 6 months ago

Xiaomi India Announces Major Changes In Leadership Amidst Ongoing Money Laundering Investigation

News 18  

Xiaomi India on Friday has confirmed reports that Manu Kumar Jain has moved on from his leadership role in the country to become the Group Vice President for the global markets. In place of Manu, Xiaomi India is appointing Alvin Tse as the General Manager, and along with him Anuj Sharma from Poco India rejoins Xiaomi once again as the …

Xiaomi Global’s Alvin Tse to lead operations at India unit
2 years, 6 months ago

Xiaomi Global’s Alvin Tse to lead operations at India unit

Live Mint  

Xiaomi on Friday named Alvin Tse, a member of its founding team, as the head of its Indian business. Xiaomi Indonesia, where Tse served as a general manager since October 2019, clocked a 34% year-on-year sales growth in 2021, according to a March report by International Data Corp.. Tse also headed Xiaomi’s Poco Global between March 2018 and November 2020 …

Xiaomi Alleges Physical Violence And Coercion, ED Calls It Baseless
2 years, 7 months ago

Xiaomi Alleges Physical Violence And Coercion, ED Calls It Baseless

News 18  

New Delhi: The Enforcement Directorate on Saturday rejected as "baseless" the allegations that the statements of Xiaomi India officials, the wholly-owned subsidiary of Chinese mobile manufacturing company Xiaomi, were recorded "under coercion", saying the charges were an afterthought. The federal agency was responding to certain news reports that said Xiaomi alleged in a recent filing before the Karnataka High Court …

Xiaomi vs Indian government: What is happening?
2 years, 7 months ago

Xiaomi vs Indian government: What is happening?

India Today  

Xiaomi India is in the news of late. ED’s investigation reveals that Xiaomi India started remitting foreign currency equivalent to Rs 5,551.27 crore since 2015 - a year after it began its India operations. According to the federal financial-crime fighting agency, Xiaomi India remitted the huge sum under the guise of royalty from three companies, one of which was a …

ED seizes ₹5,551 cr. of Xiaomi Technology India under FEMA
2 years, 7 months ago

ED seizes ₹5,551 cr. of Xiaomi Technology India under FEMA

The Hindu  

The Enforcement Directorate has seized ₹5,551.27 crore of Xiaomi Technology India Private Limited under the provisions of the Foreign Exchange Management Act, in connection with the alleged illegal remittances made by the company. It sent foreign currency equivalent to ₹5,551.27 crore to three foreign–based entities, which include one Xiaomi group entity, in the guise of royalties. The amounts remitted to …

Xiaomi says all operations in India 'compliant' with laws after ED seizure
2 years, 7 months ago

Xiaomi says all operations in India 'compliant' with laws after ED seizure

Hindustan Times  

Xiaomi issued a statement on Saturday after the Enforcement Directorate seized ₹5551.27 crore of Xiaomi Technology India Pvt Ltd on charges of violating the Foreign Exchange Management Act. "The company has remitted foreign currency equivalent to ₹5,551.27 crore to three foreign-based entities which include one Xiaomi group entity, in the guise of royalty," the ED said alleging that such huge …

ED seizes Rs 5,551 cr deposits of smartphone giant Xiaomi India for FEMA violation
2 years, 7 months ago

ED seizes Rs 5,551 cr deposits of smartphone giant Xiaomi India for FEMA violation

Deccan Chronicle  

New Delhi: Funds worth over Rs 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been "seized" for violating the Indian foreign exchange law, the Enforcement Directorate said on Saturday. "The company has remitted foreign currency equivalent to Rs 5,551.27 crore to three foreign based entities which include one Xiaomi group entity, in the guise of royalty," the ED …

ED Seizes Rs 5,551 Crore Deposits of Smartphone Giant Xiaomi India for FEMA Violation
2 years, 7 months ago

ED Seizes Rs 5,551 Crore Deposits of Smartphone Giant Xiaomi India for FEMA Violation

News 18  

Funds worth over Rs 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been “seized" for violating the Indian foreign exchange law, the Enforcement Directorate said on Saturday. “The company has remitted foreign currency equivalent to Rs 5,551.27 crore to three foreign based entities which include one Xiaomi group entity, in the guise of royalty," the ED said. “The …

ED summons former India head of Xiaomi in investigation: Report
2 years, 8 months ago

ED summons former India head of Xiaomi in investigation: Report

Hindustan Times  

The Enforcement Directorate has summoned a former India head of China's Xiaomi Corp in an investigation of whether the company's business practices conformed with Indian foreign exchange laws, two sources with direct knowledge told Reuters. Asked about the probe, a Xiaomi spokesperson said the company abides by all Indian laws and was "fully compliant with all the regulations." The ED …

Xiaomi continues to top Indian smartphone market in Q3 2021, total shipments fall
3 years, 2 months ago

Xiaomi continues to top Indian smartphone market in Q3 2021, total shipments fall

India Today  

Xiaomi continues to top the Indian smartphone market despite supply issues which have led to an overall decline in shipments. Xiaomi's annual shipments reportedly decreased by 14 percent in Q3 2021 as it shipped 11.2 million units, as compared to 13.1 million units in the same quarter last year. The South Korean electronics maker also had a 20 per cent …

Xiaomi beats Samsung to become number 1 smartphone brand in the world for first time ever
3 years, 4 months ago

Xiaomi beats Samsung to become number 1 smartphone brand in the world for first time ever

India Today  

Xiaomi has beaten both Samsung and Apple to emerge as the number one smartphone vendor in the world during June 2021, the latest Counterpoint report confirmed. According to the report, Xiaomi’s sales grew 26 per cent month-on-month in June 2021, making it the fastest-growing brand for the month. The same period has Xiaomi presently leads the global smartphone sales charts …

Not just in India, Xiaomi has now beaten Samsung in Europe too
3 years, 4 months ago

Not just in India, Xiaomi has now beaten Samsung in Europe too

India Today  

After dominating the Indian smartphone market for a few years now, Xiaomi has also beaten Samsung in Europe to emerge as the number one smartphone vendor, according to the data shared by analyst firm Strategy Analytics. Xiaomi shipped the highest number of smartphones to Europe in the second quarter of 2021 as total shipments grew 14 percent year-on-year to 50.1 …

State Of India’s Used Phone Market: Xiaomi Leads The Way While Ladies Are Holding On To Their Phones
3 years, 6 months ago

State Of India’s Used Phone Market: Xiaomi Leads The Way While Ladies Are Holding On To Their Phones

News 18  

The Indian smartphone market has rebounded pretty dramatically in the quarters following the Coronavirus induced slowdown and the nationwide lockdowns in H1 2020, and that has given the pre-owned smartphone market a big boost as well. Cashify says that in the pre-owned smartphone space, Xiaomi phones are most popular followed by Apple, Samsung, Motorola, Vivo and Oppo. With that as …

Xiaomi India Extends Product Warranty by Two Months Amid COVID-19 Lockdowns
3 years, 7 months ago

Xiaomi India Extends Product Warranty by Two Months Amid COVID-19 Lockdowns

News 18  

Xiaomi India has decided to extend the warranty of its products for Indian customers as the country continues to battle the second wave of deadly COVID-19. The Chinese tech company says that Xiaomi devices whose warranty is expiring in May or June this year will be able to avail of services for another two months. The company shared the development …

Xiaomi to invest ₹100 crore in India over the next two years
3 years, 9 months ago

Xiaomi to invest ₹100 crore in India over the next two years

Live Mint  

Chinese smartphone maker Xiaomi on Thursday said it will invest ₹100 crore in India to double its retail touch points in the country to 30,000 in the next two years. While the Chinese brand did lose some of its market share in India this year, amid an overall drop in the country’s smartphone market, it has remained the top smartphone …

Xiaomi's Make in India efforts: Mi TVs 100% locally-made, partners 2 new smartphone manufactures, more
3 years, 9 months ago

Xiaomi's Make in India efforts: Mi TVs 100% locally-made, partners 2 new smartphone manufactures, more

Firstpost  

Five years after Xiaomi joined the Make in India initiative, the company has announced further efforts to strengthen it commitment in India. Xiaomi has partnered with contract manufacturers BYD, DBG for smartphones and Radiant for manufacturing smart TVs in India. At a virtual briefing, Xiaomi India Managing Director Manu Kumar Jain said that the DBG unit in Haryana is already …

Xiaomi achieves 27% smartphone market share in India for Oct-Dec quarter in 2020: Report
3 years, 10 months ago

Xiaomi achieves 27% smartphone market share in India for Oct-Dec quarter in 2020: Report

Live Mint  

New Delhi: Indian smartphone industry has registered a new record 100 million smartphone shipments for the second half of the year 2020. According to the report, Samsung followed Xiaomi with 20% market share in the fourth quarter of 2020 and record a 35 per cent increase in year-on-year shipments. It grew 75 per cent YoY and is expected to increase …

India's Smartphone Shipments Fell 4 Percent to 150 Million Units in 2020, Xiaomi Retains Top Spot
3 years, 10 months ago

India's Smartphone Shipments Fell 4 Percent to 150 Million Units in 2020, Xiaomi Retains Top Spot

News 18  

Smartphone shipments in India fell marginally by 4 percent to reach over 150 million units in 2020, the latest Counterpoint Research data shows. Notably, the Indian smartphone market grew 19 percent YoY in the fourth quarter of 2020 as the festive season offers got extended across several online and offline channels. In terms of overall smartphone shipments in India last …

Chinese smartphone brands expanded India market share in 2020: Report
3 years, 10 months ago

Chinese smartphone brands expanded India market share in 2020: Report

Hindustan Times  

Chinese smartphone brands increased their market share in India in 2020, a year marked by deadly border clashes between the Asian neighbours and backlash against Chinese firms in India, research firm Counterpoint said on Wednesday. Chinese brands commanded 75% of India's smartphone market last year, up from 71% in 2019 and the highest since at least 2014. Xiaomi Corp remained …

Xiaomi Sold 1.5 Million Smartphones During 5-Day Republic Sales in India, Mi 10i Was Top-Selling 5G Device
3 years, 10 months ago

Xiaomi Sold 1.5 Million Smartphones During 5-Day Republic Sales in India, Mi 10i Was Top-Selling 5G Device

News 18  

Xiaomi India has announced that the company sold over 1.5 million units of Mi and Redmi smartphones during the 5-day Republic Day sales on Amazon and Mi online and offline channels. The development was shared by the Chinese smartphone maker on Twitter today, that further notes that the Redmi 9 Power was among the best-selling smartphones on Amazon India. Both …

Xiaomi pips Samsung to regain top spot in Indian phone market
3 years, 10 months ago

Xiaomi pips Samsung to regain top spot in Indian phone market

Live Mint  

Chinese handset maker Xiaomi reclaimed the top spot with a 26% share of India’s smartphone market in the December quarter, after anti-China sentiments helped South Korea’s Samsung push ahead with a 24% market share in the previous quarter compared to Xiaomi’s 23%, as per Counterpoint Research. Though smartphone shipments grew 19% from the year earlier in the December quarter, shipments …

Philips moves HC to restrain Xiaomi from selling phones infringing tech patent
4 years ago

Philips moves HC to restrain Xiaomi from selling phones infringing tech patent

Live Mint  

New Delhi: Koninklijke Philips NV, or Philips, has moved the Delhi High court seeking to restrain Xiaomi Inc. and its affiliates, officers or agents from manufacturing and selling certain mobile handsets. The electronic goods makers has sought restraint on manufacturing /assembling, importing, selling, offering for sale, advertising including through their and third party websites certain mobile phones and any future …

Samsung Overtakes Xiaomi to Gain Top Spot in Indian Smartphone Market After 2 Years
4 years, 1 month ago

Samsung Overtakes Xiaomi to Gain Top Spot in Indian Smartphone Market After 2 Years

News 18  

South Korean smartphone maker Samsung has overtaken Chinese manufacturer Xiaomi to become the leading smartphone company in India in the July-September quarter, according to market research firm Counterpoint Research. Now, these figures contradict a similar report from market research firm Canalys, which said that Xiaomi still holds the top spot in the Indian market with a 26.1 percent market share. …

India smartphone market rebounds to record high in a single quarter
4 years, 2 months ago

India smartphone market rebounds to record high in a single quarter

The Hindu  

Smartphone shipments in India rebounded to an all-time high in a single quarter as online sales surge. The shipments jumped to 50 million units in the quarter ending September, growing 8% from the same period in the previous year, according to data from app intelligence firm Canalys. "Ongoing sales at Amazon and Flipkart are a clear indication that despite the …

Samsung Dethrones Xiaomi As Overall Mobile Phone Leader In India: IDC
4 years, 4 months ago

Samsung Dethrones Xiaomi As Overall Mobile Phone Leader In India: IDC

ABP News  

New Delhi: South Korean major Samsung has dethroned Xiaomi to lead the overall mobile phone market in India in the second quarter of this year, a new report said on Friday.Samsung led the overall mobile phone market with a market share of 24 per cent, followed by Xiaomi and Vivo, said IDC India. The mid-premium segment with a share of …

China and India’s trade and tech ties are at risk as border dispute escalates
4 years, 6 months ago

China and India’s trade and tech ties are at risk as border dispute escalates

CNN  

Hong Kong/San Francisco CNN Business — China and India are locked in a tense diplomatic and military standoff after a deadly border skirmish earlier this week. Deep ties China has created a significant place for itself in India’s technology sector over the last five years, according to a report published by Indian foreign policythink tank Gateway House. State-run tabloid The …

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