China's Huawei revenues collapse nearly a third as it peddles against US sanctions

China’s Huawei revenues collapse nearly a third as it peddles against US sanctions

Chinese telecoms giant Huawei Technologies has watched its revenue collapse by almost a third so far this year, as it peddles against the waters of US sanctions.

Revenue hit $49.5bn in the six months to June, down 29 per cent, the group reported today.

With its handset business struck by US sanctions, the UK’s decision last year to blacklist its 5G operations and its new divisions still in their early stages, the telecoms heavyweight has been working in less-than-ideal business conditions..

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