Huawei revenue drops 32 per cent in first nine months as US sanctions cripple its once lucrative smartphone business

//Huawei revenue drops 32 per cent in first nine months as US sanctions cripple its once lucrative smartphone business

Huawei revenue drops 32 per cent in first nine months as US sanctions cripple its once lucrative smartphone business

Huawei Technologies Co, the Chinese telecommunications and smartphone giant, reported a 32 per cent slump in sales for the first nine months of 2021, deepening a 29.4 per cent decline in the first half, as the company’s handset business was crippled by US sanctions.Huawei, which is private but releases some financial data periodically, said it generated revenue of 455.8 billion yuan (US$71.2 billion) in the first nine months of 2021, almost a third less than the 671.3 billion yuan it posted in…

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By | 2021-10-29T08:00:19+00:00 October 29th, 2021|Technology|Comments Off on Huawei revenue drops 32 per cent in first nine months as US sanctions cripple its once lucrative smartphone business