Huawei Technologies’ revenue is shrinking for the fourth consecutive quarter, Bloomberg reports. The company said in the first nine months of 2021, revenues amounted to 455.8 billion yuan and a margin of 10.2 percent.
In the three months to the end of September, the Chinese technology giant reported a 38 percent drop to 135.4 billion yuan ($ 21.2 billion), according to the agency’s estimates. The profit reached 15.1 billion yuan. The rate of decline coincides with that of the second quarter of 2021.
Huawei is losing sales due to US sanctions imposed by President Donald Trump during his term. The company said b2b revenue remained stable, but the consumer division was “significantly affected”.
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