China’s Huawei Says Sales Down 16.5 Percent Amid US Sanctions

Residents pass by a Huawei electronics store in Beijing, on April 12, 2021. Ng Han Guan/AP Photo

Embattled Chinese tech giant Huawei said Wednesday its first-quarter revenue fell 16.5 percent, hurt by a dip in smartphone sales.

Sales declined 16.5 percent from a year earlier to 152.2 billion yuan ($23.5 billion) due in part to lower revenue for its consumer unit, the company said. It gave no earnings but said its profit margin improved by 3.8 percentage points to 11.1 percent.