Huawei revenue drops 29% as its consumer growth engine stutters

Huawei is trying to pivot towards software and business areas not at risk of US pressure

Former US President Donald Trump put Huawei on an export blacklist and barred it from accessing critical technology of US origin

Chinese telecommunications giant Huawei Technologies saw its revenue drop by almost a third in the first half of 2021, with U.S. sanctions hobbling its once-dominant handset business and new business areas still in their early stages.

The company generated revenue of €42bn. The biggest drop came from Huawei's consumer business group, which includes handsets, where revenue fell 47% to €17.7bn.