Xiaomi responds to physical violence claims, See what it says
The case of Xiaomi and the ED has been going on for a while, with the company currently under the scanner for royalty-related stuff. An earlier report by Reuters suggested that Xiaomi Corp's top executives were given threats of physical violence and coercion by the ED during the questioning process. The report claimed that Reuters had accessed the details from the court filing.
Xiaomi has now come up with an official statement related to this report. In a press note, the company says, “The contents of the writ petition are confidential qua public at large. There seems to be a want to create some sort of sensationalism without considering the impact that it will have on the ED, Govt of India, and the company. This matter is subjudice and under the consideration of court of law. We refuse to comment on this," said a Xiaomi spokesperson in the statement.
“We reserve our rights in all respects and will take steps as we may be advised to safeguard our reputation,” they added.
Xiaomi in trouble with Indian Govt
Xiaomi has been under investigation since February 2022 and last week the ED seized $725 million lying in the company's India bank accounts, saying it made illegal remittances abroad "in the guise of royalty" payments.
Xiaomi denies any wrongdoing, saying its royalty payments were legitimate. Earlier this week, a judge heard its lawyers and put the ED's decision to freeze bank assets on hold.
This situation happens at a time when Xiaomi dominates the Indian smartphone space in multiple years in succession. The recent data from Counterpoint Research shows Xiaomi dominating the Indian smartphone market, edging out Samsung and the rest of its competition. The company recently held its launch event where it launched its flagship Xiaomi 12 Pro in India, taking the fight to Apple and Samsung in the premium smartphone space.
Additionally, Xiaomi also announced its first OLED TV in India as well as marked its return to the tablet space with the Xiaomi Pad 5. The OLED Vision TV is among the more affordable OLED TVs you can buy in India.