Huawei Revenue Sinks as Smartphones Hurt by US Sanctions

Huawei Revenue Sinks as Smartphones Hurt by US Sanctions
The logo of Chinese telecom giant Huawei is pictured during the Web Summit in Lisbon on Nov. 6, 2019. Patricia De Melo Moreira/AFP via Getty Images
The Associated Press
Updated:

BEIJING—Chinese tech giant Huawei’s revenue fell 29.4 percent from a year earlier in the first half of 2021 as smartphones sales tumbled under U.S. sanctions imposed in a fight with Beijing over technology and security.

Revenue declined to 320.4 billion yuan ($49.6 billion), according to figures released Friday, from 454 billion yuan ($70.2 billion) reported for the first half of 2020. Part of that was due to Huawei’s November sale of its low-cost Honor smartphone brand in hopes of reviving the unit by separating it from the sanctions on the parent company.