Investigations in India may have a negative impact on cash flows and operating results

August 20, 2022

Share via:

Chinese smartphone maker Xiaomi stated that the ongoing investigations in India could take a long time to resolve, which could result in judgments or settlement options that’may adversely affect its operating results or cash flows.’

The management assessed the aforesaid matters related to Xiaomi India, taking into consideration opinions from professional advisors, and concluded Xiaomi India has valid grounds to respond to the relevant Indian authorities,” Xiaomi said in its quarterly report. The company reported a 20% drop in global sales in the quarter ended June 30, 2022, reaching $10.31 Bn. Concerning the ongoing investigations in India, the Chinese smartphone manufacturer stated that it was not possible to quantify the financial consequences of the same at this time.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

CEO of Paytm Vijay Shekhar Sharma is set to face a vote of confidence from investors

Next News

VLC received no communication from the Indian government regarding the app ban

Editorial Team

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.