Huawei’s revenue slumps as smartphone sales hit by US sanctions

Sales of Huawei products have been hit by US sanctions (Dominic Lipinski/PA)

Chinese tech giant Huawei’s revenue fell 29.4% in the first half of 2021 as smartphones sales tumbled under US sanctions imposed in a fight with Beijing over technology and security.

Revenue declined to 320.4 billion yuan (£36bn), according to figures released on Friday, from 454 billion yuan (£50bn) reported for the first half of 2020.