China's Huawei says sales down 16.5% amid US sanctions

China's Huawei says sales down 16.5% amid US sanctions

3 years ago
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https://apnews.com/97446119395125c5ea4dec8eb3ee0dcc

BEIJING (AP) — Embattled Chinese tech giant Huawei said Wednesday first-quarter revenue fell after it sold its lower-priced Honor smartphone brand, but profitability improved.

Sales declined 16.5% from a year earlier to 152.2 billion yuan ($23.5 billion) due in part to lower revenue for its consumer unit, the company said. It gave no earnings but said its profit margin improved by 3.8 percentage points to 11.1%.