They were responsible for Latin America and Western Europe
Xiaomi demonstrated its tough stance against corruption by firing two regional general managers of its international business department.
According to Sina Technology, Chen Bingxu, the former general manager of the Latin American region, was caught accepting bribes, accepting expensive gifts and participating in luxurious entertainment financed by business partners.
Owen, former general manager of Western Europe, fabricated outsourcing deals involving significant financial investments. Both executives were reported to have been key figures in promoting Xiaomi's overseas expansion.
Chen Bingxu was fired, stripped of his stock options, and reportedly required to compensate the company for financial losses. In Owen's case, not only was he fired, but the company also filed criminal proceedings against him.
According to Canalys data, Xiaomi shipped 5.3 million devices in the first quarter of 2024, capturing 15.3% of the Latin American market. Over the year, the company grew by 45% in the region. In the European market, Xiaomi ranked third with a market share of 16% in the first quarter of 2024.