Alerts in the last 24 hours

No Personalised Alerts!

To see personalised alerts you need to be logged in.

Log In

DJI pledges painful action to tackle corruption

DJI, the world's bestselling drone-maker, has published an open letter promising to take "painful" steps to tackle corruption within its company. DJI blamed "inefficient and ineffective management processes" in part. But it added that it could not ignore cases of "outright theft". "While mature companies have established the training, controls and management protocols to limit these issues, DJI has in the past emphasised corporate growth over new internal processes," the statement added. The Shenzhen-based firm also makes camera stabilisers - known as gimbals - among other products, and is recognised as being one of China's leading tech innovators. As a private company it does not declare its earnings, but the Nikkei Asian Review estimated that its net income last year was 6bn yuan ($893m; £682m). So, when the firm declared earlier this month that fraud by 45 suspected members of staff had cost it up to 1bn yuan, the sum was seen to be significant if not calamitous for the business.

First found on: And then on: 1 other references

1 other references