Huawei recorded second straight quarterly decline in revenue as US sanctions hit consumer business

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Embattled telecoms giant Huawei Technologies reported its second consecutive decline in quarterly revenue, as growth in the world’s largest 5G telecommunications equipment maker was hit by sanctions enacted by the US and some allies.

Huawei on Wednesday reported a revenue of 152.2 billion yuan ($23.5 billion) in the first quarter of the year, down 16.5 per cent from the same period a year earlier, mainly due to a shrinking consumer business, the company’s main revenue earner. The company's revenue fell 11 per cent year on year in the fourth quarter last . . .

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