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NEW DELHI: China's Xiaomi has told New Delhi that smartphone component suppliers are wary about setting up operations in India amid heavy scrutiny of Chinese companies by the government, according to a letter and a source with direct knowledge of the matter. Xiaomi, which has the biggest share in India's smartphone market at 18%, also asks in the letter dated Feb. 6 that India consider offering manufacturing incentives and lowering import tariffs for certain smartphone components. The Chinese company assembles smartphones in India with mostly local components and the rest imported from China and elsewhere. The letter is Xiaomi's response to a query from India's information technology ministry asking how New Delhi can further develop the country's component manufacturing sector. India ramped up scrutiny of Chinese Business es after a 2020 border clash between the two countries killed at least 20 Indian soldiers and four from China, disrupting investment plans ...

SHANGHAI: China's widening curbs on iPhone use by government staff intensified a sell-off in global tech stocks on Friday on fears Apple and its supplier s could take a hit from rising Sino-US tensions and growing com Pet ition from Huawei. Apple shares tumbled 6.4% in the previous two days, wiping $190 billion from its market capitalisation, following news Beijing ordered some central government employees in recent weeks to stop using iPhones at work. Several Wall Street analysts on Friday said the selloff was overdone, claiming that any revenue hit for Apple would likely be small due to the phone's popularity in China. After two days of declines, Apple shares rebounded in Friday trading, up 1.3%. Apple is facing stepped-up com Pet ition from China's Huawei, which launched two new smartphones - the foldable Mate X5 and the Mate 60 Pro+ - that drew global attention for showcasing resilience to US sanctions. Some analysts believe Huawei...