Huawei revenues slump as consumer business struggles

Huawei revenues fell by 16.5% to 152.2 billion Yuan (£16.9bn) during the first quarter of 2021 as the Chinese vendor’s ongoing challenges in the smartphone market continue to impact its balance sheet.

The company’s network division continues to benefit from demand for 5G equipment in countries where it is not excluded from participating, especially in its homeland where all three operators are pursuing aggressive deployments.

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