US Blacklists Xiaomi in Widening Assault on China Tech

Xiaomi 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. From a report, shared by dxxt: 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, producing sleek smartphones that draw loyal fans with each new release. The company, which vies with Huawei Technologies for the title of China's No. 1 mobile device brand, also makes electric scooters, earphones and smart rice cookers. The U.S. Defense Dept. identified Xiaomi as one of nine companies with alleged ties to the Chinese military -- which means American investors will be prohibited from buying their securities and will have to divest holdings by November.Read more of this story at Slashdot.
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