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Queen of Mobile Phone Glass |
The wealth of Zhou Qunfei, chairwoman and president of Hunan-based Lens Technology, soared after the firm’s debut on the Shenzhen stock exchange last month, after which its shares surged by their daily limit for 10 consecutive days.
She claimed the title yesterday, Forbes reported.
Zhou worked as a factory girl at a different glass company before starting her own business in 2003.
Now 45, she owns an 89 per cent stake in the firm, which had more than 80,000 employees and revenue of US$3.3 billion in 2013, according to Bloomberg.
It put her wealth at US$7.6 billion yesterday — before the shares went up another 10 per cent today.
Lens primarily makes touch-sensitive glass covers for mobile phones, computers and cameras. According to the Hong Kong-based South China Morning Post, its covers are used in nearly 21 per cent of the world’s smartphones.
China’s unprecedented economic boom has turned it into the world’s second-largest economy and raised hundreds of millions out of poverty, but has also created huge income disparities and rampant corruption, with only a relative few accruing vast wealth.
The number of dollar billionaires in mainland China passed 300 in 2013, according to the Hurun Report, a luxury magazine publisher.
Source: TheMalayMailOnline
INFO:
Originally a 'factory girl' in Shenzhen, her growth in the industry has earned her the nickname 'Queen of mobile phone glass,' commanding an annual salary of more than £1.5 million.
According to company sources, Zhou worked at Bai En for many years and left before founding Lens Technology - which is now the company's biggest competitor - in 2003.
Born in the Hunan province, she relocated to Guangdong where she learned how to make glass for watches before later moving onto the multimedia, consumer electronics and the mobile device screen market she would later dominate.
Shortly after establishing the company - which specialises in the production of protective window glass, used in mobile phones, tablet PCs, notebook PCs, and consumer electronic products - she moved the factory to her home town of Hunan.
Brokers estimate that Lens Technology's market value could reach 53 billion yuan with Zhou's personal worth climbing to 46.6 billion yuan, or £4.87 billion.
It shipped 476 billion pieces of protective glass in 2013, including 451 million for mobile phones and 25.5 million for table PCs, with a market share of 23.37 per cent.
Source: DailyMail
