Reuters reports drone maker DJI Technology to post $150 million loss due to corruption

GaryPageau , , ,

Reuters reports China’s leading consumer drone maker, SZ DJI Technology Co. Ltd., discovered several cases of “serious corruption” at the company and expects 2018 losses of more than 1 billion yuan ($150 million) as a result.

The company said it was investigating the cases, which came to light during routine quality control in 2018, and it had handed some employees to the authorities.

The state-run China Securities Journal cited an internal company report on corruption, which said that more than 40 people at privately-held DJI had been investigated, said Reuters.