Huawei Reports Second Straight Quarterly Revenue Drop
Huawei Technologies has announced another steep quarterly decline in revenue for the Jan-March 20212 quarter, as the company struggles with numerous issues.
The company singled out the sale of its budget smartphone Honor, which launched in November, as the reason for the decline.
A more obvious reason would be the strict US sanctions imposed in January by the Trump administration, who revoked licenses and blocked U.S chipmaking companies, including Intel, from selling to the Chinese company.
The US has also blocked Huawei from running Google apps and other US-made software.
Revenue fell 16 per cent from a year earlier to $US23.5 billion during the January-March quarter. This follows a drop of 11.2 per cent in the Oct-Dec 2020 quarter.
The components shortage also led to a severe drop in their smartphone sales.