Will protect business interests after freezing of assets in India: Xiaomi

ALSO READ Xiaomi Pad 5 review: Competitive in price-performance ratio, but imperfect Xiaomi Next launch event at 12 pm: How to watch livestream, what to expect Xiaomi 12 Pro 5G, Pad 5, smart TV 5A-series launched in India: Details here Xiaomi OLED Vision TV review: Economical option in premium smart TV segment Xiaomi Smart TV X Series with 4K Dolby Vision screen launched: Price, specs. MUMBAI - Chinese smartphone maker Corp on Sunday said it was "Disappointed" with an Indian order that froze $682 million of its and would continue to protect its interests. The company said that India is an affiliate and one of the Xiaomi Group companies, which entered into a legal agreement with Qualcomm to license IP for manufacturing smartphones. Both Xiaomi and Qualcomm believe that it is a legitimate commercial arrangement for Xiaomi India to pay Qualcomm royalty, the statement said. With an 18% share each, Xiaomi and Samsung together lead the smartphone market in India, the world's second biggest after China, according to data from Counterpoint Research. Many Chinese have struggled to do business in India due to political tensions following a border clash in 2020. India has cited security concerns in banning more than 300 Chinese apps since then, including popular ones such TikTok, and also tightened rules for Chinese investing in India.