Huawei’s Revenue Takes Biggest Dive Ever
Huawei suffered through its biggest ever revenue dive in the first half of 2021, plummeting by almost 30 per cent, to $AUD67.1 billion.
Revenue from Huawei’s consumer electronics sector, which includes phones, fell by 47 per cent.
US sanctions, coupled with the sale of a portion of its mobile phone business following this, are the biggest factors for the drop. The ongoing chip shortage has added to the company’s woes.
“US sanctions have posed great difficulties to our business operations and day-to-day work,” Richard Yu, the company’s consumer devices chief, said.
Sales outside of China increased, despite the US sanctions, buoyed in part by the launch of Huawei’s updated Harmony OS, as well as the growth of its cloud and enterprise businesses.
In a statement, Chairman Eric Xu said: “Our aim is to survive, and to do so sustainably,”