On Oct. 6, an Indian High Court declined to lift a freeze on $676 million of Xiaomi’s assets, dealing a blow to the company’s operations in India. The company, the world’s third-largest smartphone manufacturer, said the court’s move had “effectively halted” its operations in the Indian market, according to a Reuters report.
The move comes amid increasing troubles for Chinese companies in India’s smartphone market. Xiaomi is among several top Chinese smartphone makers who have been charged with money laundering and tax evasion in India over the past year.
