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<ul><li>Xiaomi, Oppo and Vivo are coming together to launch a peer-to-peer file transfer service for Android. </li><li>The beta version of the new feature will go live by the end of the month. </li><li>Xiaomi, Oppo and Vivo have also invited other Android brands in this endeavour. </li></ul>Xiaomi, Oppo and Vivo — otherwise competitors — are teaming up to build a new file sharing system for Android. And, it looks similar to Apple’s AirDrop. In a post shared on <a href="https://mmbiz.qpic.cn/mmbiz_png/nZHRG2ibhP1l8tLaESmicCw1lB7lYPmWje7OBICGdaLWc4UoNiaG0l808C6iaWe5t5UHicmbv3J5O5RBZibRZxKvAtAg/640?wx_fmt=png&amp;wxfrom=5&amp;wx_lazy=1&amp;wx_co=1">WeChat</a>, the three Chinese tech giants said that they’re developing a peer-to-peer network that will allow users to transfer files between Xiaomi’s MIUI, Oppo’s Color OS and Vivo’s Funtouch OS. And, they have invited more brands to hop on the bandwagon. Coming at the end of the month The beta version of the cross branded service is expected to hit the market by the end of the month. It doesn’t require users to download additional software and it doesn’t use up cellular data either. As of now, plans indicate that the file transfer will use Bluetooth to pair devices and will be capable of reaching speeds of 20 mbps, indicating the use of Wi-Fi-like Apple’s AirDrop. Unlike the AirDrop — users on this service will be able to transfer files to at least two brands other than the one they own. They’re not alone Google tried to popularise its own version of AirDrop style file transfers in 2011 with Android Beam. But that particular feature is being pulled from the catalogue once Android Q makes its way into the market. Instead, Android Q will have a ‘Fast Share’ functionality — similar to the Files by Google service that facilitates file transfers over bluetooth.

Xiaomi, Oppo and Vivo are teaming up to take on Apple’s AirDrop — and it’s coming by the end of the month

<ul><li><keyword id="874458" type="General" weightage="20" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> has announced the global launch of <keyword id="1599969" type="General" weightage="100" keywordseo="miui" source="Orion">MIUI</keyword> 14, the company’s latest user interface.</li><li>The update brings optimized storage, on-device privacy features, improved interactions, and more.</li><li>The company has released a list of devices that will receive the update in the first phase.</li></ul> Xiaomi has finally announced the global launch of MIUI 14, the latest version of its popular user interface. MIUI 14 was launched in China in December and has finally made its global debut. It was announced alongside the Xiaomi 13 and<a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-13-pro-vs-oneplus-11-price-specs-and-features-compared/slidelist/98264176.cms"> 13 Pro</a> smartphones. The latest update brings several improvements and new features, such as on-device privacy features, optimized storage, improved intuitive interactions, and more. <cmsannotation type="cmsannotation" annotationid="MIUI 14 rollout date" comment="subhead" text="MIUI 14 rollout date">MIUI 14 rollout date</cmsannotation> While Xiaomi has not given a particular date, the first phase of the MIUI 14 rollout will begin in Q1 2023. We should know more about the exact date in the coming weeks. <cmsannotation type="cmsannotation" annotationid="Devices that will receive MIUI 14 update in the first phase" comment="subhead" text="Devices that will receive MIUI 14 update in the first phase">Devices that will receive MIUI 14 update in the first phase</cmsannotation> <ul><li>Xiaomi 12T Pro</li><li>Xiaomi 12T</li><li>Xiaomi 12 Pro</li><li>Xiaomi 12</li><li>Xiaomi 12X</li><li>Xiaomi 12 Lite</li><li>Xiaomi 11T Pro</li><li>Xiaomi 11T</li><li>Mi Ultra</li><li>Mi 11i</li><li>Mi 11</li><li>Xiaomi 11 Lite 5G NE</li><li>Mi 11 Lite 5G</li><li>Mi 11 Lite</li><li>Redmi Note 11 Pro+ 5G</li><li>Redmi Note 10 Pro</li><li>Redmi Note 10</li><li>Redmi 10 5G</li></ul><cmsannotation type="cmsannotation" annotationid="MIUI 14 features" comment="subhead" text="MIUI 14 features">MIUI 14 features</cmsannotation> The MIUI 14 comes with several new features. Here are some of the top features – <cmsannotation type="cmsannotation" annotationid="Home screen" comment="subhead" text="Home screen">Home screen</cmsannotation> The home screen has been revamped with the MIUI 14 update, making it easier for you to customize it. You can use tabular icons, big folders, widgets, and more as per your preference. <cmsannotation type="cmsannotation" annotationid="Intuitive design" comment="subhead" text="Intuitive design">Intuitive design</cmsannotation> <div type="image" title="UI" msid="98269089" hostid="261" sizebytes="40624" caption="&amp;lt;p&amp;gt;The intuitive design on MIUI 14&amp;lt;/p&amp;gt;"></div> The update also brings a flexible and intuitive design that gives you a post-it notes type card-style design. It allows you to look at all the important information quickly. <cmsannotation type="cmsannotation" annotationid="Back-end optimization" comment="subhead" text="Back-end optimization">Back-end optimization</cmsannotation> The update also comes with a few back-end optimizations to improve performance. <div type="image" title="2" msid="98269100" hostid="261" sizebytes="18562" caption="&amp;lt;p&amp;gt;Storage improvements in MIUI 14&amp;lt;/p&amp;gt;"></div> Apps that you rarely use will get auto-compressed, saving memory. Additionally, notifications are no longer permanent and can be closed by you. MIUI also takes up less space now, and the system resources take comparatively less space. <cmsannotation type="cmsannotation" annotationid="On-device privacy" comment="subhead" text="On-device privacy">On-device privacy</cmsannotation> On-device privacy is a new feature to ensure data privacy. As part of this, data will be processed on your device only, without the help of servers or other external devices. At present, on-device privacy is available with over ten system services. <cmsannotation type="cmsannotation" annotationid="Connected devices" comment="subhead" text="Connected devices">Connected devices</cmsannotation> Another feature that has been introduced with MIUI 14 is Connected Devices. This allows you to sync the app you use on your smartphone and tablet. This also allows you to transfer files between devices quickly. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-13-pro-vs-oneplus-11-price-specs-and-features-compared/slidelist/98264176.cms">Xiaomi 13 Pro vs OnePlus 11 – price, specs and features compared</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a> <a href="https://www.businessinsider.in/tech/gadgets/news/four-out-of-five-wireless-earbuds-sold-in-india-in-2022-were-from-an-indian-company/articleshow/98141414.cms">Four out of five wireless earbuds sold in India in 2022 were from an Indian company</a>

MIUI 14 announced – features, supported devices, release date, and more

<ul><li>A report has revealed that <keyword id="215177" type="General" weightage="20" keywordseo="vivo" source="Orion">Vivo</keyword> reportedly transferred nearly $8 billion (₹62,000 crore) to its parent company in <keyword id="1334" type="General" weightage="100" keywordseo="china" source="Orion">China</keyword>.</li><li>The Enforcement Directorate had conducted raids across 44 locations belonging to Vivo and its associates.</li><li>The ED is reportedly investigating the transfer and why the company reported its profits as expenditure.</li></ul>The Enforcement Directorate (ED), the country’s financial watchdog recently <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">conducted raids</a> across 44 offices belonging to <keyword id="2829414" type="General" weightage="20" keywordseo="vivo-india" source="Orion">Vivo India</keyword> and its related firms, as part of ED’s investigations into violations of the Prevention of Money Laundering Act (PMLA) by the Chinese smartphone maker and its associates. According to a <a href="https://www.businesstoday.in/technology/news/story/exclusive-ed-probes-rs-62000-cr-fund-transfer-to-vivo-indias-chinese-parent-340713-2022-07-07">report</a> by Business Today, Vivo reportedly transferred nearly $8 billion (₹62,000 crore) to its parent company in China over a five year period from 2017 to 2021. "The agency is investigating why Vivo India declared profit as expenditure in its balance sheet and transferred substantial sums of money to China," an official familiar with the matter told Business Today. The above report has revealed that the company’s total turnover during the period was around ₹1.25 lakh crore. This shows it transferred nearly half of its turnover to its Chinese parent, if the reported numbers are correct. The money laundering case against Vivo was filed by ED after taking cognizance of a FIR filed by the Economic Offenses Wing of the Delhi Police against a Vivo distributor based in Jammu and Kashmir. The FIR alleged that Chinese shareholders of the company had forged their identity documents. According to the above report, ED suspects that the identity was forged to launder money using shell companies and “proceeds of the crime” have been sent to China and other businesses to bypass Indian rules. The Press Trust of India in a <a href="https://twitter.com/PTI_News/status/1545016847669415936">tweet </a>citing ED has said the actual amount remitted by Vivo is around ₹62,476 crore. The tweet further added that the amount was transferred to avoid taxes in India. <cmsannotation type="cmsannotation" annotationid="ED seizes funds, cash and gold from Vivo" comment="subhead" text="ED seizes funds, cash and gold from Vivo">ED seizes funds, cash and gold from Vivo</cmsannotation> <div type="twitter" handle="PTI_News" handlename="Press Trust of India" image="http://pbs.twimg.com/profile_images/826806758513446913/2__zaKJN_normal.jpg" favoritecount="150" retweetcount="31" status="Raids on Vivo: ED seizes funds of Rs 465 crore, Rs 73 lakh in cash and 2 kg gold under anti-money laundering law" createdat="1657195616000" id="1545016511982555136"></div> The Enforcement Directorate has reportedly seized ₹456 crore in funds, ₹73 lakh in cash and 2 kg gold from Vivo under the money laundering act. <cmsannotation type="cmsannotation" annotationid="Second Chinese smartphone maker to come under the ED scanner" comment="subhead" text="Second Chinese smartphone maker to come under the ED scanner">Second Chinese smartphone maker to come under the ED scanner</cmsannotation> This is the second instance of a Chinese company coming under the scanner of the Indian authorities for remitting money outside India. Earlier, Xiaomi came under the ED scanner for remitting over ₹5,500 crore. A <a href="https://www.businessinsider.in/business/news/vivo-ed-raids-two-chinese-directors-of-a-related-company-flee/articleshow/92714054.cms">report</a> has also revealed that two Chinese directors of a company related to Vivo have fled India after the ED raids. The two directors were reportedly working for Solan, a Himachal Pradesh-based company that was associated with Vivo. They were allegedly made directors in the company using forged documents. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/policy/economy/news/china-unhappy-with-vivo-raids-says-frequent-probes-chill-investor-confidence/articleshow/92715136.cms">China unhappy with Vivo raids, says frequent probes 'chill' investor confidence</a>

Vivo reportedly transferred nearly $8 billion to its parent company in China

<ul><li>The Chinese smartphone manufacturer, Xiaomi, is looking to monetise its already launched internet services in India according to <keyword id="2210169" type="PERSON" weightage="20" keywordseo="Xiaomi-India">Xiaomi India</keyword>'s managing director. </li><li>As the already marginal gross profit margin from smartphones is decreasing for the company, the gross profit margin from internet services increased in FY18.</li><li>As Xiaomi monetises its growing user base for internet services in India it could be a possible disruption for other players in the market.</li></ul>After conquering the budget smartphone segment in India, the Chinese smartphone manufacturer, Xiaomi, is ready to enter the burgeoning arena of internet services. The company's already launched a lot of these services in India — like Mi Pay, Mi Videos, Mi Music and Mi Drop — but now, it's looking to monetise those business models. The <a href="https://www.businessinsider.in/xiaomi-investment-india-new-products-launch-expected/articleshow/68460618.cms">recent</a> ₹35 billion infusion into the Xiaomi's India operations is going to be used to build more on the digital content and services business <a href="https://economictimes.indiatimes.com/tech/hardware/xiaomi-looks-to-monetise-internet-services-in-india/articleshow/68666216.cms">according</a> to Xiaomi India's managing director, Manu Kumar Jain. 
 
 
 
 
 
 
 <div type="ExtQuote" text="Xiaomi globally made less than 1% profit margin from hardware or device sales in 2018, and we have stated that will never make more than 5% profit margin on hardware. It is the internet services which will make money for us." auname="Manu Kumar Jain, Xiaomi India's managing director told the Economic Times"></div>













 Within the first quarter of 2018, two new players — <a href="https://www.businessinsider.in/spotify-launches-in-india/articleshow/68173763.cms">Spotify</a> and <a href="https://www.businessinsider.in/youtube-music-launches-in-india-to-compete-with-spotify/articleshow/68385096.cms">YouTube Music</a> — entered India's over-the-top (OTT) services space. Services like <a href="https://www.businessinsider.in/hotstar-vip-subscription-plan-price-features-original-content/articleshow/68532179.cms">Hotstar</a> and <a href="https://www.businessinsider.in/netflix-mobile-only-plan-india-price-features/articleshow/68531031.cms">Netflix</a> have also been experimenting their subscription option to optimise them for the Indian consumer. Even the digital wallet market is getting more competitive as <a href="https://www.businessinsider.in/google-for-india-2018-heres-everything-you-need-to-know/articleshow/65581116.cms">Google</a>, <a href="https://www.businessinsider.in/amazon-india-and-amazon-pay-sales-may-increase-as-the-online-retail-giant-expands-physical-presence/articleshow/68590870.cms">Amazon</a>, PayTM, PhonePe and JioMoney are launching partnerships and offers to reel in more consumers. The Indian over-the-top (OTT) streaming services is <a href="http://image-src.bcg.com/Images/Entertainment-Goes-Online_tcm21-208006.pdf">estimated</a> to grow to $5 billion by 2023 and the current players have only <a href="https://www.businessinsider.in/heres-why-ott-platforms-were-a-big-hit-among-indians-in-2018/articleshow/67286083.cms">touched</a> the tip of the iceberg according to the Boston Consulting Group (BCG). If Xiaomi's smartphone pricing strategy is anything to go by, then its not afraid to undercut the competition. From smartphones to internet services Most of Xiaomi's revenue is derived from the sale of its smartphones. In fact, 65.1% of the company come from smartphones according to the company's <a href="https://www.businessinsider.in/xiaomi-smartphones-in-india-more-expensive-us-china-trade-war/articleshow/68517077.cms">annual report</a>. But, the gross profit margin on those devices fell from 8.8% in FY17 to 6.2% in FY18. In the same period, the gross profit margin of internet services increased from 60.2% to 64.4%. And, though internet services only account for 9.1% of Xiaomi's total revenue, the segment has shown an year-on-year growth on 61.2%. 
 
 
 
 
 
 
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 Things as they stand Currently, Mi Music and Mi Video has over 40 million users per month in India. And, Xaomi's already started monetising those services by introducing a subscription plan for the former. Xiaomi's file transfer service, Mi Drop has crossed over 100 million downloads in Google's Play Store after being launched in January this year. And, it's also reportedly at the helm of introducing Mi Credit, an instant loan platform, in India after it unveiling Mi Pay, its Unified Payments Interface (UPI) application last month. See also: <a href="https://www.businessinsider.in/xiaomi-smartphones-in-india-more-expensive-us-china-trade-war/articleshow/68517077.cms">Global currency wars made it more expensive for Xiaomi to sell phones in India</a> <a href="https://www.businessinsider.in/xiaomi-investment-india-new-products-launch-expected/articleshow/68460618.cms">Xiaomi makes its largest investment in India so far</a> <a href="https://www.businessinsider.in/redmis-budget-smartphones-will-have-their-own-identity-as-the-brand-breaks-away-from-xiaomi/articleshow/67378457.cms">Redmi's budget smartphones will have their own identity as the brand breaks away from Xiaomi</a>

Xiaomi is looking to make five times more money — and that may be a headache for Netflix, Amazon, Spotify, and even PayTM

In its first ever raids in the Union Territory of <keyword id="19905190" type="General" weightage="20" keywordseo="Ladakh" source="keywords">Ladakh</keyword>, the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="261" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> on Friday conducted searches as part of its <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword> probe linked to a cryptocurrency fraud case in which investors lost more than Rs 7 crore worth of deposits, officials said. The agency's zonal office here raided at least six premises in Leh town of Ladakh, Jammu in J-K and Sonipat in Haryana in the case against A R Mir and others. It is alleged that 2,508 investors deposited more than Rs 7.34 crore in a fake cryptocurrency business in the name of "<keyword id="22638371" type="General" weightage="20" keywordseo="Emollient-Coin-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Emollient Coin Limited" meta.hostid="261" meta.entityid="Emollient Coin Limited">Emollient Coin Limited</keyword>". They, however, did not get any returns or currency back, and these funds were laundered by the business' promoters to purchase land assets in Jammu. The money laundering case stems from a March 2020 FIR registered in Leh and some other complaints filed in the Union Territory (UT) of Jammu and Kashmir (J-K) against Mir and Ajay Kumar Choudhary. Police in Leh in their FIR stated that an inquiry was conducted by a committee formed by the local district magistrate against Mir and his agents who were running the "fake" cryptocurrency business (Emollient Coin Limited) from a office located at the Anjuman Moin-Ul-complex, opposite SNM Hospital, in Leh. The committee sealed this office during inquiry on charges of "cheating many innocent individuals by assuring them to double their investment", according to the FIR. The accused lured people of the UT of Ladakh and some other places to purchase "Emollient Coin" using cash or transferring money into bank accounts, according to Enforcement Directorate (ED) officials. The depositors were also duped in the name of "Bitcoins" with the assurance of returns up to 40 per cent with a lock-in period of 10 months, the probe agency said. Investors were dished out a commission of up to seven per cent of the investment made by the people on their reference in the business, thereby forming a multi-level marketing chain, the ED found. A total of 2,508 people invested Rs 7,34,36,267 in the investment plan offered by Mir and the company (Emollient) floated by him that was incorporated in September 2017 and had its registered office in London. A man, Henry Maxwell, living in the UK capital, was its director. The company had two promoters in India -- Naresh Gullia and Channi Singh. The company was "deliberately" dissolved in March 2019, and Mir along with Choudhary launched a real estate business and acquired lands in Jammu from the funds generated by the fake cryptocurrency trade, according to the ED. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms" target="_blank">Ola Electric IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-plus-with-dimensity-7350-pro-chipset-launched-in-india-starting-at-29999/articleshow/112164963.cms" target="_blank">Nothing Phone (2a) Plus with Dimensity 7350 Pro chipset launched in India starting at ₹29,999</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-decline-by-2-in-q2-2024-xiaomi-retakes-the-throne/articleshow/112162312.cms" target="_blank">Indian smartphone shipments decline by 2% in Q2 2024, Xiaomi retakes the throne</a>

ED undertakes first-ever searches in Ladakh in crypto fraud case

<ul><li><keyword id="6357456" type="General" weightage="100" keywordseo="huawei" source="Orion">Huawei</keyword> has come under the scanner of Indian agencies over tax evasion.</li><li>The Income Tax department has accused Huawei of repatriating large amounts of money to its parent company in China.</li><li>The department has claimed that Huawei sent the money in the form of dividends to reduce its taxable income.</li></ul>Chinese smartphone maker Huawei is the latest company to come under the scanner of Indian agencies. The Income Tax (IT) department has accused Huawei India of repatriating large amounts of money to its parent company in China. According to an Economic Times <a href="https://economictimes.indiatimes.com/news/india/huawei-india-sent-huge-sums-to-parent-even-as-revenue-fell-says-tax-dept/articleshow/92735497.cms">report</a>, Huawei has been accused of repatriating large amounts of money in the form of dividends to reduce its taxable income in India. <cmsannotation type="cmsannotation" annotationid="Huawei sent ₹750 crore as dividends despite dwindling revenues" comment="subhead" text="Huawei sent ₹750 crore as dividends despite dwindling revenues">Huawei sent ₹750 crore as dividends despite dwindling revenues</cmsannotation> The <keyword id="59032" type="General" weightage="20" keywordseo="it-department" source="Orion">IT department</keyword> has claimed discrepancies in the income declared by Huawei in India for at least two financial years. The department has alleged that the company had remitted ₹750 crore as dividends “even when its revenue was reducing drastically”. Huawei has been under the IT department’s scanner for quite some time now. In February, the department had frozen the bank accounts of the company after it found evidence of tax evasion during a search operation. The Delhi High Court had <a href="https://economictimes.indiatimes.com/industry/telecom/huawei-india-ceo-3-executives-summoned-in-i-t-case/articleshow/92137955.cms">summoned</a> the chief executive officer and three executives of Huawei after a complaint was filed by the IT department claiming the company was withholding information. “The non-compliance by the accused company and its officers had resulted in obstruction and stifling of search action of authorized officers,” the court had said in its order. Huawei in its petition to the court had claimed that the freeze on its accounts without any notice had affected its business. In its response to Huawei’s claims, the IT department claimed that it had "incriminating material" against Huawei and added that the company’s petition is "a ploy raised on frivolous grounds just to obstruct departmental proceedings and to avoid consequential payment of taxes". <cmsannotation type="cmsannotation" annotationid="Not the first Chinese company to come under the scanner" comment="subhead" text="Not the first Chinese company to come under the scanner">Not the first <keyword id="149012" type="General" weightage="20" keywordseo="chinese-company" source="Orion">Chinese company</keyword> to come under the scanner</cmsannotation> Huawei is not the first Chinese smartphone maker to come under the scanner of Indian agencies. Earlier this year, the Enforcement Directorate (ED) had <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">claimed</a> that Xiaomi had illegally remitted ₹5,551.27 crore. After Xiaomi, <keyword id="215177" type="General" weightage="20" keywordseo="vivo" source="Orion">Vivo</keyword> came under the scanner of ED, and earlier this month, the financial watchdog revealed that the company has transferred nearly <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">$8 billion</a> to its parent company in China over a five year period, which amounted to around 50% of the company’s turnover during the period. The ED is investigating violations of the Prevention of Money Laundering Act (PMLA) act by the Chinese smartphone maker. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a>

Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion

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<ul><li><keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> has allegedly transferred ₹62,476 crore to its parent company in China, in addition to being caught with 2 kilo gold bars in one of its offices.</li><li>The Enforcement Directorate (ED) has claimed that Vivo remitted the amount to avoid paying taxes in India.</li><li>The financial watchdog has blocked over a hundred bank accounts of the company.</li></ul>Chinese smartphone maker Vivo is currently in hot waters with the Enforcement Directorate (ED) in India after the financial watchdog accused the company and its associates in India of violating the Prevention of Money Laundering Act (PMLA). The ED has <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">conducted raids</a> across 44 premises of Vivo and its associates in Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, and several other states across the country. The ED has accused Vivo of remitting nearly <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">$8 billion</a> to China. Here’s everything that you need to know about the allegations against Vivo. <cmsannotation type="cmsannotation" annotationid="Vivo has reportedly sent ₹62,476 crore to China to evade taxes" comment="subhead" text="Vivo has reportedly sent ₹62,476 crore to China to evade taxes">Vivo has reportedly sent ₹62,476 crore to China to <keyword id="14399574" type="General" weightage="20" keywordseo="evade-taxes" source="Orion">evade taxes</keyword></cmsannotation> According to a <a href="https://twitter.com/PTI_News/status/1545016847669415936">report</a> by PTI, the ED has claimed that Vivo has remitted ₹62,476 crore, which is around 50% of its revenue over a five-year period to its parent company in China to avoid paying taxes. "The agency is investigating why Vivo India declared profit as expenditure in its balance sheet and transferred substantial sums of money to China," an official familiar with the matter told <a href="https://www.businesstoday.in/technology/news/story/exclusive-ed-probes-rs-62000-cr-fund-transfer-to-vivo-indias-chinese-parent-340713-2022-07-07">Business Today</a>. The money laundering case against Vivo was filed by the agency after taking cognizance of an FIR filed by the Economic Offenses Wing of the Delhi Police against a Vivo distributor based in Jammu and Kashmir. The report has claimed that Chinese shareholders of the company have used forged identity documents. The ED has claimed that the identity was forged to launder money using shell companies and “proceeds of the crime” have been sent to China and other businesses to bypass Indian rules. <cmsannotation type="cmsannotation" annotationid="Two directors flee the country" comment="subhead" text="Two directors flee the country">Two directors flee the country</cmsannotation> A <a href="https://www.businessinsider.in/business/news/vivo-ed-raids-two-chinese-directors-of-a-related-company-flee/articleshow/92714054.cms">report</a> has also revealed that two Chinese directors of a company related to Vivo fled India after the ED raids. The directors were part of Solan, a Himachal Pradesh-based company that was associated with Vivo. The agency has claimed that the Chinese nationals were made directors of the company using forged documents. <cmsannotation type="cmsannotation" annotationid="India blocks over a hundred accounts linked to Vivo" comment="subhead" text="India blocks over a hundred accounts linked to Vivo">India blocks over a hundred accounts linked to Vivo</cmsannotation> As part of its investigation into money laundering violations, the ED has <a href="https://timesofindia.indiatimes.com/business/india-business/india-blocks-119-accounts-linked-to-chinas-vivo-in-money-laundering-probe/articleshow/92729778.cms">reportedly</a> blocked 119 bank accounts linked to Vivo. The accounts reportedly have over ₹465 crore. The agency has also seized ₹73 lakh in cash and 2kg gold. <cmsannotation type="cmsannotation" annotationid="China calls for a “fair and non-discriminatory business environment”" comment="subhead" text="China calls for a “fair and non-discriminatory business environment”">China calls for a “fair and non-discriminatory business environment”</cmsannotation> After the ED raided Vivo and its associates, a spokesperson from the Chinese embassy <a href="https://www.businessinsider.in/policy/economy/news/china-unhappy-with-vivo-raids-says-frequent-probes-chill-investor-confidence/articleshow/92715136.cms">called</a> for a “fair and non-discriminatory business environment” for Chinese firms in the country. "The Chinese government has always asked Chinese companies to comply with local laws and regulations in their overseas operations and will firmly support Chinese companies to maintain their legitimate rights and interests," Wang Xiaojian counselor and spokesperson, Chinese Embassy in India said in a statement. "The Indian side should act in line with laws and regulations and provide a fair and non-discriminatory business environment for Chinese firms," Xiaojian added. <cmsannotation type="cmsannotation" annotationid="India hits back, says Vivo needs to follow the law of the land" comment="subhead" text="India hits back, says Vivo needs to follow the law of the land">India hits back, says Vivo needs to follow the law of the land</cmsannotation> The Indian side has also hit back after the Chinese spokesperson called upon India to provide a non-discriminatory business environment. "Companies that operate here need to follow the law of the land. Our legal authorities are taking steps as per the law of the land. I don't see the case to make comments as such on it," Arindam Bagchi, spokesperson, ministry of external affairs said in a media briefing. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a>

Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe

Reuters<ul class="summary-list"><li>Google is reportedly working on a new file sharing feature for Android called Nearby Sharing, which would function much like Apple's AirDrop, as <a href="https://www.xda-developers.com/nearby-sharing-airdrop-for-android-file-sharing/">XDA Developers</a> recently reported. </li><li>Google has offered some similar functionality in the past through its older Android Beam feature, which it has since phased out, and its Files by Google app.</li><li>But this new addition, reportedly called Nearby Sharing, would be built in to the operating system and would presumably work across all Android devices.</li><li>Samsung is also said to be working on its own similar feature for Galaxy devices.</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories.</a></li></ul>Google could be gearing up to launch its own version of Apple's AirDrop, the feature that allows you to wirelessly transfer files between Apple devices, according to the <a href="https://www.xda-developers.com/nearby-sharing-airdrop-for-android-file-sharing/">XDA Developers</a> forum. A developer said he managed to use the new file-sharing feature, which is said to be called Nearby Sharing, on a Google Pixel 2 XL and OnePlus 7T Pro. XDA Developers also said they were able to get the feature to work on the Google Pixel 2XL and Google Pixel 4.In the video, XDA Developers' Mishaal Rahman shows how it would be possible to have your Android device be visible to all nearby Google contacts, only contacts of your choosing, or keep your device hidden so that you must manually accept all file requests. Like AirDrop, Google's Nearby Sharing would use Bluetooth to connect with other devices and location services to determine which compatible devices are nearby.Google did not immediately respond to Business Insider's request for comment.The launch would be significant because it would presumably give Android device owners a uniform way to share files across all types of Android devices. Google previously offered a feature in Android that allowed users to share content between devices by tapping their phones together, called Android Beam, but it has since phased out that capability.And while companies like Oppo, Vivo, and Xiaomi have <a href="https://www.pocket-lint.com/phones/news/150540-oppo-vivo-xiaomi-alliance-airdrop">announced a standard</a> that would make it possible for device owners to transmit files wirelessly between phones made by any of these companies, Google has yet to launch an Android Beam replacement that would work across all Android phones. The company does have an app called Files by Google that allows users to transfer files without an internet connection, but to do so the recipient must also have the app. This new Nearby Sharing feature looks like it would be built-in at the operating system level, removing the need to download a specific app in order to work. Samsung is also said to be <a href="https://www.businessinsider.com/samsung-working-airdrop-feature-for-galaxy-phones-quick-share-2020-1">working on its own AirDop alternative</a>called Quick Share, which <a href="https://www.xda-developers.com/quick-share-samsung-alternative-airdrop-galaxy-phones/">XDA Developers</a> also recently reported. It's also not the first time we've heard that Google may be working on a new file-sharing feature for Android. Back in June 2019, <a href="https://9to5google.com/2019/06/29/google-android-fast-share/">9to5Google</a> also reported that the company was developing a wireless transfer feature called Fast Share. Nearby Sharing is said to be the latest iteration of that feature. Check out the video below from XDA Developers to see Google's supposed AirDrop rival in action. <a href="https://www.businessinsider.com/intelligence/bi-intelligence-daily?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=apple&amp;itm_campaign=bi-intelligence-daily"></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/airplane-food-tastes-different-explained-2020-1">Why food tastes different on planes</a></h3>

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New Delhi, Jan 20 () Consumer electronics major Samsung is investing Rs 3,500 crore to set up a smartphone display manufacturing unit in Noida.
Samsung India Electronics, the Indian unit of South Korean electronics giant, has transferred a land parcel of around 64,905 sq metres to Samsung Display, for a consideration of Rs 92.20 crore at its Noida plant, UP in two installments, according to the regulatory filings before the Registrar of Companies (RoC).
Besides, Samsung India Electronics has also granted a loan of Rs 3,500 crore to Samsung Display Noida (SDN) for a period of three years, according to documents sources by business intelligence platform Paper.vc.
"The parent entity of Samsung Noida Display Pvt Ltd Viz Samsung Display Company Ltd, korea has provided the coprorate guarantee equivalent to the loan amount to the company," the filing stated.
The draft corporate guarantee is to be issued by Samsung Display Co Ltd, korea, in favour of the company, it added.
Samsung Display Noida, a group entity of the company, which has been incorporated "with the principal business of manufacturing, assembling, processing and sales of displays (including their parts, components and accessories) for all types and sizes of electronic devices".
E-mails sent to Samsung India did not elicit a response.
To establish a manufacturing unit, it had approached Samsung India Electronics for transfer of land parcel.
Eungkyo Seo, wholetime director of the company is also a director of SDN, it added.
In the Indian handset market Samsung India competes with the likes of Xiaomi, OnePlus and LG in India.
Samsung India Electronics' consolidated net profit fell over 58 per cent to Rs 1,540.5 crore in 2018-19, according to a regulatory filing. The firm had posted a net profit of Rs 3,712.8 crore in the financial year 2017-18.
However, the company total income rose 20 per cent to Rs 73,085.9 crore in FY19 from Rs 61,065.6 crore in the previous fiscal, as per the documents filed by the company to the Registrar of Companies (RoC). KRH MKJ

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