US blacklists Xiaomi, 10 other Chinese companies
Xiaomi Corp. plunged 11% after the Trump Administration boycotted China's No. 2 cell phone producer and 10 different organizations, expanding endeavors to undermine the development of the nation's innovation area. The U.S. has focused on scores of Chinese organizations for the expressed motivation behind ensuring public security, yet following Xiaomi is a shock. The Beijing-based organization has been seen as China's response to Apple Inc., creating smooth cell phones that draw faithful fans with each new delivery. The organization, which competes with Huawei Technologies Co. for the title of China's No. 1 cell phone brand, additionally makes electric bikes, headphones and keen rice cookers. Xiaomi was helped to establish by very rich person business visionary Lei Jun around 10 years prior, with U.S. chipmaker Qualcomm Inc. as probably the soonest financial specialist. It's since extended well past China's lines, especially into Europe and India, getting one of ...