As Jung kin-man earned a fortune of $7.2 billion on the production of glass for smartphones

Yung kin man is the founder and Executive Director of a Hong Kong company, Biel Crystal Manufactory, which is the largest supplier of glass to protect the displays of mobile devices of the two leading manufacturers — Apple and Samsung. The state of the kin-Mana is estimated by Bloomberg at $7.2 billion, and it is one of the ten richest people in Hong Kong. Shanghai analyst IHS Technology Terry Yu believes that in the short term, other suppliers will not be able to undermine the position of Biel. “The main competitor of the Corporation grows really fast, but he is no closer to Biel,” notes the analyst.

Company Biel Crystal Manufactory purchases from other suppliers (e.g., Corning) raw materials and manufactures of them have a protective glass for displays of smartphones and other mobile devices. In 2013, the business generated about $3.2 billion in revenue, and in 2014 that number grew to $4 billion. Co-owner of Biel Crystal Manufactory Lam Wai Ying, a woman who in official documents was listed as the wife of young keen-Mana. Kin-Manu owns 51% of the business, and In 49%. “Glass” the business Yung kin man started about 30 years ago — his first company produced glass for watches.

To do glasses for smartphones he decided after found that a plastic cover on his own the phone is easily scratched and loses its former appearance. Then he decided to provide smartphone manufacturers with glass to protect the displays. Production kin-man launched, having received a large order from Motorola for the release of one million glasses for smartphone Motorola Razr. As a result, the customer increased the number of need glasses to 100 million. Apple became a customer of Biel Crystal Manufactory in 2007, when it introduced its first iPhone.

Factories Biel Crystal Manufactory is located in the Chinese cities of Shenzhen and Huizhou. Among the companys customers — not only Samsung and Apple, but other manufacturers — such as LG Display. The company is part of the Korean conglomerate LG and is one of the world leaders in the production of liquid crystal displays. By words a press-Secretary LG Display, to protect the majority of products manufactured by the company are glass-Biel Crystal Manufactory. Now the number of employees of Biel Crystal Manufactory exceeds 100 thousand people.

The total production facilities owned by the company amounts to more than 1.2 million square meters. “We always try to create something new,” says kin-man. “We invented the technology of fingerprint recognition for their own glasses, and also developed the sapphire glass which is much stronger and less scratched than the alternatives.”. As stated by kin-man, 5% of its earnings a company spends on research and development.

Company Biel Crystal Manufactory has been accused of creating poor working conditions for their workers. Student organization to combat violations in the corporate sector (SACOM) in 2013 published a report which said that employees of factories Biel work for 11 hours a day, and have only one day off a month. Also, the organization noted that workers often receive injuries, but the management of this is watching and refuses to pay them compensation. In addition, according to SACOM, only in 2013 at least five employees of Biel Crystal Manufactory factories have committed suicide.

Wei Guo, Chairman of the City University of Hong Kong, in South China Morning Post estimated the company Jung kin in Mana $14.2 billion. The article was written after kin-man donated the school $26 million. With the market capitalization closest competitor Biel — Lens Technology — $6.4 billion.


Leave a Reply