FEMA violation of $5,551 crore, the Enforcement Directorate issued a show-cause notice to Xiaomi Technology India, CFO Sameer Rao, its former MD Manu Jain, and 3 banks. According to the officials, the notice relates to illegal remittances made by the company totaling $5,555.27 crores.
The Enforcement Directorate (ED) on Friday said that the Adjudicating Authority has issued showcause notices to Xiaomi Technology India Private Limited, its officials and three banks under the relevant provision of the Foreign Exchange Management Act (FEMA) on the basis of a complaint filed by the probe agency in connection with illegal remittances made by the company to the tune of Rs 5,551.27 crore.
Three Chinese technology brands, OPPO, Vivo and Xiaomi, have joined hands to allow users to transfer data between their devices to take on the growing Apple's market share in the country, the media reported on Friday.
India saw 44.6 million smartphone shipments in the third quarter this year, a 6 per cent decline from the previous year dragged by a lacklustre low-end segment.
Android 13 has been carried out this week with a few new elements, including further developed privacy controls, language settings and that's only the tip of the iceberg.
Xiaomi led the market with a 22 per cent shipment share while Samsung captured the second spot with a 19 per cent share.
According to the latest research from Strategy Analytics, Xiaomi will remain the 5G leader above Apple and Samsung in the region till 2022.
The system would also permit the underlying processor to identify and predict earthquake events based on multiple readings, the report added.
The 11T Pro with 8GB RAM and 128GB storage starts at Euros 649 (roughly Rs 56,300). A 8GB RAM and 256GB storage model will cost 699 euros (roughly Rs 60,700).
Determined to reach the remotest of areas in the country and address the needs of customers by making technology more accessible to all, the company will also be creating employment opportunities for 200+ families, thereby fostering entrepreneurship across India.
