India court declines to lift freeze on Xiaomi's $676m assets

India court declines to lift freeze on Xiaomi's $676m assets

FILE PHOTO: A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. REUTERS/Francis Mascarenhas/File Photo

An Indian court on Thursday declined to lift a freeze on Xiaomi Corp’s $676 million worth of assets, even as the Chinese smartphone group said this enforcement action had “effectively halted” its operations in its key Indian market.