Xiaomi has responded to claims of physical violence that have surfaced on the Internet some time ago. Here are all the details.
In the case of Xiaomi and ED has been going on for a while, with the company now under control of royalty-related things. An earlier Reuters report claimed that top executives from Xiaomi Corp were made threats of physical violence and coercion by the ED during questioning. The report alleges that Reuters had access to details from court records.
Xiaomi has now released an official statement regarding this report. In a press note, the company said, “The content of the petition is confidential but is generally public. There seems to be a will to create some kind of sensationalism without considering its impact on the ED, the Governor of India and the company. This matter is without prejudice and under review by a court of law. We decline to comment on this,” a Xiaomi spokesperson said in the statement.
“We reserve our rights in all respects and will take steps as we may be advised to protect our reputation,” they added.
Xiaomi is in trouble with the Government of India
Xiaomi has been under investigation since February 2022 and last week the ED seized $725 million located in the company’s bank account in India, saying it had made illegal money transfers abroad.” in the form of royalty payments”.
Xiaomi denies any wrongdoing, saying its royalty payments are legitimate. Earlier this week, a judge heard his attorneys and delivered the ED’s decision to freeze bank assets.
This situation comes at a time when Xiaomi dominates the Indian smartphone market for several consecutive years. Recent data from Counterpoint Research shows that Xiaomi is dominating the Indian smartphone market, beyond SAMSUNG and the rest of its competitors. The company recently held its launch event where it launched its flagship Xiaomi 12 Pro in India, bringing Apple and Samsung in the premium smartphone space.
In addition, Xiaomi has also announced its first OLED TV in India as well as marked a return to the tablet space with the Xiaomi Pad 5. The Vision OLED TV is one of the more affordable OLED TVs you can buy. can be purchased in India.
