Some 45% of the country's people are now on 5G, but telecom firms have not been willing to invest in the fancier technology that would ramp speeds by 20 times over 4G technology

Xiaomi has grown its position in India to become the smartphone market leader. Now, it's under investigation by two separate enforcement agencies.

Automotive components maker Motherson Sumi Systems Limited, IT services company Prodapt and cloud communications platform Route Mobile among biggest gainers

The Chinese telecoms company has been accused by the Enforcement Directorate of making illicit remittances. The Indian agency described its claims of coercion as 'baseless'.

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

Luca Maestri, the tech company's financial chief, told analysts that supply-chain issues would hurt sales in the quarter by $4 billion to $8 billion

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

TechInsights, which analyses components inside consumer electronics, sent a report to the US Commerce Department alleging the violations

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

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

The actions signal widening scrutiny of the Chinese smartphone maker, whose India office was raided in December in a separate investigation

The decision was taken because of fear of secondary sanctions from the US after Russia’s invasion of Ukraine, Forbes Russia said, citing Russian media.