Huawei revenue slides in Q3 as smartphone business remains crippled

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By David Kirton
SHENZHEN, China (Reuters) - Revenue of China's Huawei Technologies Co Ltd plummeted 38% in the third quarter compared to the same period a year earlier, with U.S. sanctions having hobbled its smartphone business and new potential growth areas still in their infancy.
The Chinese telecoms giant posted revenue of 455.8 billion yuan ($71.32 billion) for the first three quarters on Friday, down by almost a third on the same period a year earlier, with a profit margin of 10.2%.
Revenue for the third quarter alone came to 135.4 billion yuan, based on Reuters calculations.
Performance was "in line with forecast", said rotating Chairman Guo Ping.
Former U.S. President Donald Trump put Huawei on an ...


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