{"id":10056,"date":"2021-08-09T08:48:33","date_gmt":"2021-08-09T12:48:33","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=10056"},"modified":"2021-08-16T09:12:35","modified_gmt":"2021-08-16T13:12:35","slug":"huawei-suffers-its-biggest-revenue-drop-ever","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/huawei-suffers-its-biggest-revenue-drop-ever\/","title":{"rendered":"Huawei Suffers Its Biggest Revenue Drop Ever"},"content":{"rendered":"\r\n<p data-ar-index=\"0\">Chinese telecommunications company Huawei Technologies suffered the biggest-ever drop in revenue in the first half of 2021 after U.S. sanctions forced it to sell a significant part of its once-robust handset business and before new growth areas matured.<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"1\">The company generated revenues of 320.4 billion yuan ($49.56 billion).<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"2\">The sharpest decline came from Huawei&#8217;s consumer goods division, which includes handsets, where sales fell a whopping 47% to 135.7 billion yuan.<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"3\">Consumer business accounted for more than half of sales in 2019.<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"4\">Former U.S. President Donald Trump blacklisted Huawei in 2019 and banned it from accessing US-made critical technology, negatively affecting its ability to develop its own chips and source components from manufacturers abroad.<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"5\">Huawei sold the brand in November.<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"6\">Revenues in Huawei&#8217;s telecommunications equipment business also fell 14% in the first half, partly due to the slowdown in China&#8217;s 5G rollout.<\/p>\r\n\r\n\r\n\r\n<p data-ar-index=\"7\">According to an internal statement from founder and CEO Ren Zhengfei, Huawei is trying to focus on software and businesses that are not under U.S. pressure.<\/p>\r\n\r\n<p data-ar-index=\"8\">For more information, read the <a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/huawei-revenue-drops-29-its-consumer-growth-engine-stutters-2021-08-06\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> in Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>Chinese telecommunications company Huawei Technologies suffered the biggest-ever drop in revenue in the first half of 2021.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26],"tags":[116],"class_list":["post-10056","post","type-post","status-publish","format-standard","hentry","category-mobility","tag-huawei"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/10056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=10056"}],"version-history":[{"count":5,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/10056\/revisions"}],"predecessor-version":[{"id":10395,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/10056\/revisions\/10395"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=10056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=10056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=10056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}