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Chinese telecommunications giant Huawei Technologies Co. suffered the the first drop in quarterly sales as US sanctions hammered its business and sales outside of China declined particularly hard.
Revenue in the fourth quarter fell 11.2 per cent to 220.1 billion yuan from a year earlier, according to calculations based on data released by Huawei.
For the full year, its revenue managed to grow 3.8 per cent to a record 891.4 billion yuan, thanks to stronger performance earlier in the year. It still marked one of Huawei’s slowest years for revenue . . .
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