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AP National Business

Huawei’s Q1 sales down 14% as U.S. sanctions remain

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Published 1:56 AM

By ZEN SOO
AP Technology Writer

SINGAPORE (AP) — Chinese telecoms equipment and smartphone maker Huawei has reported its sales fell 14% in the last quarter from a year earlier, as the company continued to pump money into research and development while grappling with U.S. sanctions. Huawei Technologies said its revenue was 131 billion yuan ($19.8 billion) in the first quarter of 2022, compared to 152.2 billion yuan a year earlier. Its net profit margin for the quarter was 4.3%, down from 11.1% in the same quarter of 2021. Huawei’s rotating chairman Ken Hu said the figures were “in line with forecasts.”

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