Huawei Reports 17% Revenue Decline

Huawei, hit by U.S. and international export sanctions, on Wednesday said Q1 revenue fell 17% year on year to 152.2 billion Chinese yuan ($23.5 billion). It's the second consecutive quarterly drop. "2021 will be another challenging year for us, but it's also the year that our future development strategy will begin to take shape," said Eric Xu, the rotating chairman.