Money - International
Smartphone maker Xiaomi says legal complaint against US to protect its interests
A logo of Xiaomi is seen at Xiaomis tablet launch event in Beijing, May 15, 2014. u00e2u20acu2022 Reuters pic

HONG KONG, Jan 31 — Chinese smartphone maker Xiaomi Corp said today that its legal complaint against the US Department of Defence and the Treasury Department was to protect the company’s interests, in a notice on the Hong Kong stock exchange.

The company filed a complaint in a Washington district court on Friday against the US Defence and Treasury Departments, seeking to remove the Chinese smartphone maker from an official list of companies with ties to China’s military.

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Xiaomi said the US decision to include the company as a "communist Chinese military company” was "factually incorrect” and said it had asked the courts to declare the decision illegal.

The Defence Department, under the Trump administration in mid-January, added Xiaomi and eight other companies to the list, which requires American investors to divest their holdings in the firms by a set deadline. Xiaomi has said that 75 per cent of the company’s voting rights, under a weighted structure, were held by co-founders Lin Bin and Lei Jun, with no ownership or control from an individual or entity affiliated with the military. — Reuters

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