The latest report reports that the U.S. Department of Defense (U.S.) stated that they will remove Xiaomi Corp China from the government blacklist. This will pave the way for Chinese smartphone manufacturers to invest in America in the future.
The move states that both sides will agree to complete their litigation process without hostility and will end the conflict between Chinese and U.S. companies.
A Xiaomi spokesperson noted that the Xiaomi company currently prefers to keep an eye on the development.
Earlier this year, the U.S. Department of Defense, under the Trump administration stated that the company had ties to the Chinese military and put Xiaomi and seven other Chinese companies under a watch list and blacklisted.
Following that, Xiaomi has filed a lawsuit stating that the action was illegal and unconstitutional.
The company’s shares rose 6% in Hong Kong when news of the decision was announced.
