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Xiaomi shares plunge after US investment ban

US investors will be prohibited from buying Xiaomi shares and will have to divest their holdings by November, according to the executive order.

The world’s fourth-biggest phone maker Xiaomi now pledges to develop high-quality EVs with a ‘best-in-class’ connected device ecosystem.

Xiaomi posted its fastest pace of revenue growth in the third quarter since its 2018 listing but warned of a ‘supply chain shortage.’

Xiaomi began implementing a multi-brand strategy in 2018 in a bid to target different user segments and drive growth.

Chinese tech giants typically focus on the consumer market. But their appetite for early stage investments in semiconductors is growing.

The handset maker joins Huawei in setting up a subsidiary in Tampere, where Nokia is also located.

Huawei is losing its status as a smartphone powerhouse in 2021, with a smartphone shipment forecast putting it in seventh place among global vendors.

Chinese smartphone maker Huawei is in negotiations with several Chinese electronics companies to sell parts of its Honor smartphone unit.

Huawei, Xiaomi, Oppo, and Vivo are reportedly collaborating on an app platform for overseas markets, potentially competing with Google’s Play store.

China, the world’s largest semiconductor market, is highly reliant on foreign technology and aims to make 70% of the chips it uses by 2025.