The US Department of Defense will remove Chinese Xiaomi from the government’s “black list”, according to a court document, a development that paves the way for future US investments in the smartphone manufacturer, reports APE.
According to the document, the two sides will agree to resolve their legal dispute without further claims, ending a brief confrontation between the Washington company.
Xiaomi did not immediately respond to a request for comment.
Earlier this year, the US Department of Defense, under the Trump administration, blamed the company that it has ties to the Chinese military and put it on a list that restricts US investment in it.
Xiaomi responded quickly by filing a lawsuit against the US government, calling its inclusion on the list “illegal and unconstitutional” and denying any connection to the Chinese military.
In March, under the new Biden government, a federal judge temporarily blocked the list.
Xiaomi shares rose more than 6% in Hong Kong after the announcement of the decision.