Huawei’s revenue for 2021 plunges 28% amid U.S. sanctions

Economy

China’s telecom-equipment giant Huawei Technologies Co. said Monday its revenue for 2021 plunged 28.6 percent from a year earlier against a backdrop of the export-control measures imposed by the United States on security grounds. Huawei reported annual revenue of 636.8 billion yuan ($99.9 billion) with its smartphone business turning sluggish, and a net profit fall of 75.9 percent to 113.7 billion yuan. Before the United States began to slap sanctions on Huawei, alleging it engaged in spying activities in conspiracy with the Communist-led Chinese government, the major smartphone maker was rega...

Kyodo News

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