Last Updated on 17/05/2021 by Khushi
The Chinese electronics corporation Xiaomi was added to a blacklist by the US Department of Defense (DoD) in January, before the Biden administration took over. Earlier, it was classified as a “Communist Chinese military company.” But this decision has been overturned now.
Xiaomi filed a lawsuit in response to the blacklisting, denying any links to the Chinese military or that it was a Communist Chinese military enterprise. According to Bloomberg, a federal judge sided with Xiaomi in March and ordered the restrictions to be lifted.
The Verge reports that the US government seems to have no plans to investigate the case any further. The two sides “have settled on a path forward that will settle this case without the need for disputed briefing,” according to a joint status report filed with the Department of Defense. Xiaomi and the Department of Defense have both “agreed that a final order vacating Xiaomi Corporation’s January 14, 2021 status as a CCMC…would be sufficient,” according to the most recent court filing.
Xiaomi is currently the world’s third-largest smartphone manufacturer. Xiaomi’s stock is up 6% today, compared to an 11 percent drop in January following news of the blacklisting.