HUAWEI Technologies Co-founder Ren Zhengfei and top executives will pay a self-imposed fine totalling 469,000 dollars for management oversight of some quality breaches at the firm, an internal company memo shows on Friday. According to a notice sent to Huawei member of staff, Ren said there had been cases of “quality breach and business falsification” at some business units in recent years. Founded in 1987 by Ren, an ex-People’s Liberation Army officer, Huawei is collectively owned by its employees and known for a culture of strong discipline including self-criticism. “The fine in question relates to incidents uncovered during an internal audit,” Huawei told Reuters. According to a person briefed on the matter, Huawei’s northern and eastern European regional business, including its Poland office, was found to have inflated sales data.

Source: Nigerian Tribune January 19, 2018 11:48 UTC