Huawei Reports 16.5% Drop in Revenue with Smartphone Business Hit Hard by US Sanctions
Chinese telecom giant Huawei announced on Wednesday that its revenue fell 16.5% year-on-year to 152.2 billion yuan ($23.38 billion) in the first quarter of2021, as US sanctions continued to cause damage to the company’s consumer business, which includes smartphones and other electronic devices.
Huawei, once the world’s biggest smartphone m…