Chinese mobile giant Xiaomi has fired two regional executives for accepting bribes. Both executives were reported to have been key figures in promoting the company’s overseas expansion.
Subscribe to RB.RU on Telegram
According to GizmoChina, citing a report from Sina Technology, Chen Bingxu, former CEO of the Latin American region, was caught soliciting bribes, receiving expensive gifts, and engaging in lavish entertainment funded by business partners.
The Xiaomi employee was fired, stripped of his stock options and forced to compensate for his financial losses.
Owen, a former business executive in Western Europe, is accused of making costly bogus outsourcing deals. The company has initiated criminal proceedings against him and is also seeking compensation for damages.
According to GizmoChina, despite the actions of former executives, Xiaomi shipped 5.3 million devices to Latin America in the first quarter of 2024, occupying 15.3% of the market. In the European mobile device market, the Chinese giant occupies third position with a share of 16%.
Xiaomi is demonstrating its commitment to zero tolerance for corruption and sending a clear signal to the world by dismissing employees who were key figures in the development of the manufacturer’s international business.
Author:
Akhmed Sadulayev
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
