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.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.