Xiaomi

 

Xiaomi Corporation is a Chinese multinational electronics company founded in 2010. It is headquartered in Beijing, China, and is one of the largest smartphone manufacturers in the world. Xiaomi designs, develops, and sells a wide range of consumer electronics, including smartphones, tablets, laptops, smart home devices, wearables, and other accessories.

Xiaomi gained popularity for offering feature-packed smartphones at competitive prices, targeting both the budget and mid-range segments of the market. The company follows an online-focused business model, initially selling its products through online channels and leveraging social media and word-of-mouth marketing to reach customers. Over time, Xiaomi expanded its offline presence with physical retail stores in various countries.

In addition to smartphones, Xiaomi has diversified its product portfolio to include other consumer electronics. They offer a range of smart home devices like smart TVs, smart speakers, air purifiers, robot vacuums, and smart lighting solutions. Xiaomi also manufactures fitness trackers, smartwatches, earphones, power banks, and other accessories.

Xiaomi's custom Android-based operating system, known as MIUI, is highly regarded for its extensive customization options and regular software updates. MIUI provides a unique user interface and additional features on top of the Android platform.

The company has experienced significant growth and expanded its global presence, particularly in emerging markets like India and Southeast Asia. Xiaomi's products are now available in many countries worldwide, and it has established a strong brand presence.

It's important to note that the information provided here is accurate as of my knowledge cutoff in September 2021. For the most up-to-date and specific details about Xiaomi and its products, I recommend visiting their official website or referring to recent news sources.

The issue dates back to 2022 when the Indian government seized the equivalent of $6.7 million from Xiaomi India's bank accounts due to illegal outflow of capital. After the ED carried out an investigation, it was concluded that Xiaomi India transferred foreign exchange out of the country and held it there on behalf of the group entity. This is in direct violation of section 4 of the FEMA, 1999

Xiaomi has violated India's FEMA, according to the Enforcement Directorate