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China Manufacturing Growth May Be Slowing
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Chinese manufacturing rises in April but growth might slow
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China s Huawei says sales down 16.5% amid US sanctions
JOE McDONALD, AP Business Writer
April 28, 2021
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1of3Residents wearing face masks pass by a Huawei electronics store in Beijing on Monday, April 12, 2021. Embattled Chinese tech giant Huawei said Wednesday first-quarter revenue fell after it sold its lower-priced Honor smartphone brand, but profitability improved.Ng Han Guan/APShow MoreShow Less
2of3FILE - In this Aug. 31, 2020, file photo, an employee wearing a face mask to help curb the spread of the coronavirus stands inside a Huawei flagship store in Beijing. Embattled Chinese tech giant Huawei said Wednesday, April 28, 2021, that first-quarter revenue fell following the sale of its lower-price Honor smartphone brand but profitability improved.Andy Wong/APShow MoreShow Less
Residents wearing masks passed by a Huawei store in Beijing on April 12. Embattled Chinese tech giant Huawei said Wednesday first-quarter revenue fell after it sold its lower-priced Honor smartphone brand, but profitability improved. (AP Photo/Ng Han Guan)
BEIJING (AP) Embattled Chinese tech giant Huawei said Wednesday first-quarter revenue fell after it sold its lower-priced Honor smartphone brand, but profitability improved.
Sales declined 16.5% from a year earlier to 152.2 billion yuan ($23.5 billion) due in part to lower revenue for its consumer unit, the company said. It gave no earnings but said its profit margin improved by 3.8 percentage points to 11.1%.
Huawei Technologies Ltd., China’s first global tech brand, is struggling to hold onto its global market share following U.S. sanctions that devastated its smartphone sales, once among the world’s highest. The company also is the biggest maker of network gear used by phone and internet carriers.
Residents wearing face masks pass by a Huawei electronics store in Beijing on Monday, April 12, 2021. (AP Photo)
BEIJING Embattled Chinese tech giant Huawei said Wednesday first-quarter revenue fell after it sold its lower-priced Honor smartphone brand, but profitability improved.
Sales declined 16.5% from a year earlier to 152.2 billion yuan ($23.5 billion) due in part to lower revenue for its consumer unit, the company said. It gave no earnings but said its profit margin improved by 3.8 percentage points to 11.1%.
Huawei Technologies Ltd., China’s first global tech brand, is struggling to hold onto its global market share following U.S. sanctions that devastated its smartphone sales, once among the world’s highest. The company also is the biggest maker of network gear used by phone and internet carriers.
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