Xiaomi founder Lei Jun earned almost as much as the company last year

  • 📰 staronline
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

The founder and CEO of Chinese smartphone maker Xiaomi received almost as much in compensation last year as the company made in profit.

— SCMP

After Xiaomi’s post-IPO lock up period expired in January Lei pledged to not sell any of his stock in Xiaomi. “This stock reward decision was passed by the board with Lei Jun knowing nothing about it,” Lin said at the time. “Xiaomi is not the first to reward its founder before an IPO and will not be the last.”

Xiaomi has felt the brunt an economic slowdown and a saturated smartphone market in China. Last year, smartphone sales in the country shrunk by more than 34 per cent year on year in the fourth quarter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines