SHENZHEN - Revenue for the world's top telecommunications equipment maker, Huawei, declined by a steep 28.6 per cent last year, largely due to a drop in its smartphone business, as US sanctions continued to bite into the company.
"The multiple rounds of sanctions imposed by the US have significantly affected our business, especially smartphones and PCs," said chief financial officer Meng Wanzhou at the release of the report at Huawei's headquarters in Shenzhen. The ban also crippled Huawei's smartphone business - which was the world's largest for months in 2020 - causing the firm toLast year, Huawei's consumer business, which used to be the firm's main revenue stream, fell 49.6 per cent year on year to 243.4 billion yuan.
The company's rotating chairman, Mr Guo Ping, said it would grow its smart screen and wearable tech business - which grew by 30 per cent from a year ago - to boost revenue in its consumer business.
HuaweiMobile