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Shares of the consumer electronics maker surged as much as 12% on Monday, the biggest intraday gain in almost a month. Under the Trump administration, the Defense Department placed Xiaomi on a list of companies with alleged links to the Chinese military, triggering financial restrictions that were set to go into effect next week. U.S. District Judge Rudolph Contreras on Friday put a temporary halt to the ban, siding with Xiaomi in a lawsuit that argued that the move was “arbitrary and capricious” and deprived the company of its due process rights. Contreras said Xiaomi was likely to win a...

Huawei pivots to fish farms, mining after US blocks its phones 6 min. 15.03.2021 Once the world’s largest smartphone maker, the company has seen a series of US sanctions almost obliterate its lucrative consumer business Once the world’s largest smartphone maker, the company has seen a series of US sanctions almost obliterate its lucrative consumer business Phone shipments tumbled 42% in the final three months of 2020 for the Chinese company Photo credit: AFP Six months after the Trump administration dealt a crushing blow to Huawei Technologies Co.’s ...

By Stu Woo in London and Dan Strumpf in Hong Kong Huawei Technologies Co. lost ground last year to Western rivals in cellular-equipment markets outside China, according to an industry research firm, a signal the U.S. campaign to curb the Chinese manufacturer is starting to make an impact. Huawei's share of revenue from selling wireless-equipment around the world, excluding China, fell 2 percentage points, according to Dell'Oro Group, coming in at about 20% in 2020. Huawei remained in third place behind rivals Ericsson AB and Nokia Corp., which both picked up market share last year...

U.S. Blacklists Xiaomi in Widening Assault on China Tech Bloomberg 1/15/2021 Bloomberg News (Bloomberg) -- Xiaomi Corp. plunged a record 10% after the Trump administration blacklisted China’s No. 2 smartphone maker and 10 other companies, broadening efforts to undercut the expansion of the country’s technology sector. The U.S. has targeted scores of Chinese companies for the stated purpose of protecting national security, but going after Xiaomi was unexpected. The Beijing-based company has been viewed as China’s answer to Apple Inc., producing sleek smartphones that dr...

Xiaomi is facing serious pressure after the company was added to a US blacklist that will stop investors from purchasing shares within 60 days.