Huawei Technologies Co reported its worst interim revenue decline in decades, as US trade sanctions on essential hardware components and software hammered sales at its core smartphone business.
Huawei Technologies Ltd.'s smartphone and other consumer-oriented businesses have been “significantly impacted” but sales to phone carriers and other commercial customers “remain stable,” its chairman, Guo Ping, said in a statement.
A man wearing a mask to curb the spread of the coronavirus sits near a Huawei store logo in Beijing on Friday, July 31, 2020. Chinese tech giant Huawei's sales fell 32% from a year earlier in the first nine months of 2021 under U.S. sanctions and following the sale of its Honor smartphone brand.
However,Honor has obtained U.S. permission to buy chips from Qualcomm Inc. Honor shipped 14.2 million handsets in the three months ending in September, more than double the previous quarter. It rose to No. 3 in the populous Chinese market behind Vivo and Oppo and ahead of Xiaomi and Apple.
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