The company's share price has tumbled roughly 20% since it was placed on the blacklist in January in the waning days of the Trump administration. Xiaomi went on the offensive by filing a lawsuit against the U.S. government, calling its placement "unlawful and unconstitutional" and denying any ties to China's military. Soon after that victory, Reuters reported that other Chinese firms placed on the same blacklist were considering similar lawsuits. Xiaomi was among the more high-profile Chinese technology companies that former President Donald Trump targeted for alleged ties to China's military. "Calling Xiaomi a Chinese military company was alwaysridiculous.

Source: The Hindu May 12, 2021 11:34 UTC