Huawei revenues fall 32% to CNY 456 billion in 9 months

Nieuws Algemeen Wereld 29 OCT 2021
Huawei revenues fall 32% to CNY 456 billion in 9 months

Huawei revenues for the first three quarters of 2021 fell to CNY 455.8 billion from 671.3 billion the year before. The net margin lifted however to 10.2 percent from 8.0 percent. 

Guo Ping, the company’s rotating chairman, said overall performance was in line with forecasts but that its B2C business was significantly impacted. The B2B business remained stable. He added that the company is confident it will continue to create “practical value” for its customers through innovation, R&D and talent acquisition, plus a rigorous attention to operating efficiencies. 

Huawei revenues lifted last year by almost 10 percent but started tumbling after, in the first quarter and first half, amid US sanctions against the company, hitting the consumer segment in particular. 


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