India seizes $725 million of Xiaomi assets over illegal payments
- NXTwoThou
- j7}
- 02 May 2022
Anders, 02 May 2022I have mixed feelings about this. 1 it's concerning th... moreAssets aren't profit.
If I sell a phone for $1k and it costs me $900 to make it. I get $100 profit to reinvest or disperse. In able to sell that $1k phone, I need to have $900 on hand to make it. To have inventory to be able to readily sell, I need to have $900 times whatever for stocking purposes. Plus additional for repairs/replacement. That's not even discussing preparing the next products.
- A
- Anders
- 39y
- 02 May 2022
I have mixed feelings about this. 1 it's concerning that Governments are feeling more and more bold to seize people's assets without a court finding them guilty but also how have Xiaomi got $725 million? I thought they said they made less than 5% profit? It's almost as if they're lying SOBs
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- Anonymous
- tZj
- 02 May 2022
Hello Life, 02 May 2022People working for xiaomi in India are blue collar employee... moreAs far as I know, Xiaomi and other Chinese companies also employ a sizeable Indian white collar workforce in managerial positions. And let's not forget about Indian business owners from parts manufacturing to physical stores that are depending on foreign companies.
- n
- ni6hant
- gN}
- 02 May 2022
Get over it. Everyone does it. Few get caught. Paying royalties to boost your sales or in other words manipulation of the general public is a sad but actual reality.
If these people actually cared, we would had different batteries made in India to account for the wide range of temperature in here, the reason for which is the current exploding batteries in e-bikes in India currently.
The regulations are very very bad in India. All the phones heat up so much in hot days in India.
- ?
- Anonymous
- 8Kf
- 02 May 2022
In february I said Xiaomi would bring redmi note 12 series no more than 2-3 mnths after 11 series.
Xiaomi is already posting about it... 🤣😂🤣😂🤣
- J
- Jasper5774
- XUq
- 02 May 2022
Anonymous, 02 May 2022I hope this is not politically-motivated. If the Chinese br... moreOf course It's not.
If it were politically motivated then indian govt would have gone for BBK group which has approx 50 % share in India.
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- TheLeftovers
- Dkc
- 02 May 2022
Anonymous, 02 May 2022Which begs the question: Foreign companies operating in Ind... morethey seized their assets, because they transferred money to those companies that they have not availed any service from these 3 foreign companies, they did it to show low profit, to get tax benefits.
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- MIMA
- rKg
- 02 May 2022
Anonymous, 02 May 2022Lol of course it's politically motivated. India has be... moreIt might be politically driven but not entirely baseless.
Xiaomi was caught doing nasty things & GoI took the opportunity & taken action against Xiaomi.
So Xiaomi is not so Innocent here.
Same was true for banned chinese apps.
& Everyone knows that how deeply Chinese govt controls/regulates Chinese companies.
- N
- NXM
- rKg
- 02 May 2022
Anonymous, 02 May 2022Lol of course it's politically motivated. India has be... moreIndian Smartphone market is dominated by Chinese companies.
Indian govt didn't take any actions against other chinese brands like OnePlus,Vivo,Oppo,Realme & many smaller ones.
They took actions against Xiaomi only.
So it doesn't seem like Xiaomi is innocent here & Govt Of India is doing all this just as political stunt.
In the past also Xiaomi has been caught doing nasty things.
& If Xiaomi still believe that they have done nothing wrong then they can prove their innocency in front of ED,Court.
Many Chinese institutions & Companies are involved in shady practices that require prompt action.
So everyone must look at both sides before drawing any conclusions.
& Despite rivalry & Border issues India & China are doing a healthy amount of Bilateral trade.
If India is taking such steps baselessly than China can do the same & India has much more to lose in that situation.
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- Sun Sand
- 7kp
- 02 May 2022
Hoping and praying things work out well for Xiaomi and the Concernd Indian Authority6
- GregLu
- nRd
- 02 May 2022
Anonymous, 02 May 2022Which begs the question: Foreign companies operating in Ind... moreThey aren't Chinese :P
- j
- john
- YWY
- 02 May 2022
explain like if I was 12 years old...
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- Anonymous
- tZ0
- 02 May 2022
Kev, 02 May 2022Xiaomi's Indian division was sending a fortune of mone... moreWhich begs the question: Foreign companies operating in India like Apple and Samsung surely are transferring funds to other countries too, right? What makes Xiaomi's case warrant asset seize and investigation?
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- Von
- I@H
- 02 May 2022
Nice one
- ?
- Anonymous
- q}X
- 02 May 2022
Anonymous, 02 May 2022I hope this is not politically-motivated. If the Chinese br... moreLol of course it's politically motivated. India has been on an attack of not just Xiaomi but other Chinese companies for a while now.
- I
- IpsDisplay
- 4m}
- 02 May 2022
Hello Life, 02 May 2022People working for xiaomi in India are blue collar employee... moreYes yes everyone wants more ...
But we can't just get things because we want it
What will it take for that want to become a reality
I'm sure it will take long term effort
- ?
- Anonymous
- 7kj
- 02 May 2022
At this point it's legally bullying