Copyright infringement lawsuit hinders Xiaomi’s ambitionsXiaomi’s intellectual property infringement may keep it from reaching $100 billion on its initial public offering (IPO) and becoming the number one smart phone brand in Vietnam. The suit alleges that Xiaomi Telecom Technology Co., Ltd., Xiaomi Technology Co., Ltd., and Xiaomi Factory Co., Ltd. used Yulong's intellectual property without authorisation. In January, Coolpad filed a similar lawsuit against Xiaomi in a Shenzhen court, however, the lawsuit has yet to be finished. Yulong’s move comes nearly two weeks after Xiaomi filed to stage the largest IPO in the last four years. In addition, the lawsuit may hinder the dream of becoming the number one smart phone brand in Vietnam.

Source: VietNamNet News May 15, 2018 16:18 UTC