India is looking to restrict Chinese sales of smartphones under $150 to revitalize its faltering domestic market. This would mean a blow to the already deteriorating economic situation of China’s Xiaomi Corp. and, by extension, the expulsion of Chinese firms selling phones under $150. India, ”which is Xiaomi’s most important overseas market, with 66% of its smartphones priced under $150, according to IDC,” reported leading global market intelligence provider International Data Corporation (IDC). It should be noted that the market value of Xiaomi’s shares plunged a further 3.6% yesterday, accumulating a 35% loss for the first seven months so far…