An Indian court granted relief on the seizure, provided that Xiaomi inform Indian authorities of fund transfers such as royalty payments, a source said

Huawei held just 6.2% of the China handset market in the first quarter, research firm Counterpoint Research said on Thursday.

In China, the world's largest smartphone market, total phone shipments this year are expected to be 300 million units, down from about 325 million units last year

Ken Hu said the company faced an even more daunting year than in 2021 from geopolitics, the pandemic, rising commodity prices and fluctuating exchange rates

The consortium includes New Zealand infrastructure investor Morrison & Co and Australian pension scheme Commonwealth Superannuation Corporation

Industry analysts described the innovation as a potential way to ease the disruptions caused by US chip sanctions on the firm’s operations

Tax officials looked at financial documents, account books and company records, Indian businesses and overseas transactions, news media said, and some records were also seized