Drone giant DJI Technology Co (大疆創新) said it would temporarily suspend business in Russia and Ukraine to ensure that its products are not used in combat, making it the first major Chinese firm to cite the conflict in halting sales in Russia.
Ukrainian officials and citizens have accused DJI of leaking data on the Ukrainian military to Russia, allegations the world’s largest maker of consumer and industrial drones has called “utterly false.”
In contrast with the many Western firms that have pulled out of Russia to protest its invasion of Ukraine, Chinese companies have stayed there, in line with Beijing’s stance of refraining from criticism of Moscow over the conflict.
Photo: Carlos Garcia Rawlins, Reuters
A DJI spokesperson yesterday said that its suspension of business in Russia and Ukraine was “not to make a statement about any country, but to make a statement about our principles.”
“DJI abhors any use of our drones to cause harm, and we are temporarily suspending sales in these countries to help ensure no one uses our drones in combat,” the spokesperson added.
Privately held DJI does not release financial information, but research firm Drone Analyst has estimated that it had hardware revenue of US$2.9 billion in 2020.
The conflict in Ukraine has put Chinese companies in a bind. Continuing to operate in Russia has drawn international criticism, but withdrawing would risk a backlash from the Chinese public.
In February, ride-hailing giant Didi Global Inc (滴滴) reversed a decision to leave Russia and Kazakhstan after domestic social media users accused it of succumbing to US pressure.
China’s economic planning agency yesterday outlined details of measures aimed at boosting the economy, but refrained from major spending initiatives. The piecemeal nature of the plans announced yesterday appeared to disappoint investors who were hoping for bolder moves, and the Shanghai Composite Index gave up a 10 percent initial gain as markets reopened after a weeklong holiday to end 4.59 percent higher, while Hong Kong’s Hang Seng Index dived 9.41 percent. Chinese National Development and Reform Commission Chairman Zheng Shanjie (鄭珊潔) said the government would frontload 100 billion yuan (US$14.2 billion) in spending from the government’s budget for next year in addition
Advanced Micro Devices Inc (AMD) suffered its biggest stock decline in more than a month after the company unveiled new artificial intelligence (AI) chips, but did not provide hoped-for information on customers or financial performance. The stock slid 4 percent to US$164.18 on Thursday, the biggest single-day drop since Sept. 3. Shares of the company remain up 11 percent this year. AMD has emerged as the biggest contender to Nvidia Corp in the lucrative market of AI processors. The company’s latest chips would exceed some capabilities of its rival, AMD chief executive officer Lisa Su (蘇姿丰) said at an event hosted by
AVIATION: Despite production issues in the US, the Taoyuan-based airline expects to receive 24 passenger planes on schedule, while one freight plane is delayed The ongoing strike at Boeing Co has had only a minor impact on China Airlines Ltd (CAL, 中華航空), although the delivery of a new cargo jet might be postponed, CAL chairman Hsieh Su-chien (謝世謙) said on Saturday. The 24 Boeing 787-9 passenger aircraft on order would be delivered on schedule from next year to 2028, while one 777F freight aircraft would be delayed, Hsieh told reporters at a company event. Boeing, which announced a decision on Friday to cut 17,000 jobs — about one-tenth of its workforce — is facing a strike by 33,000 US west coast workers that has halted production
TECH JUGGERNAUT: TSMC shares have more than doubled since ChatGPT’s launch in late 2022, as demand for cutting-edge artificial intelligence chips remains high Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday posted a better-than-expected 39 percent rise in quarterly revenue, assuaging concerns that artificial intelligence (AI) hardware spending is beginning to taper off. The main chipmaker for Nvidia Corp and Apple Inc reported third-quarter sales of NT$759.69 billion (US$23.6 billion), compared with the average analyst projection of NT$748 billion. For last month alone, TSMC reported revenue jumped 39.6 percent year-on-year to NT$251.87 billion. Taiwan’s largest company is to disclose its full third-quarter earnings on Thursday next week and update its outlook. Hsinchu-based TSMC produces the cutting-edge chips needed to train AI. The company now makes more