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iTWire Thursday, 29 April 2021 08:13 Huawei 1Q2021 revenue falls by 16.5%, partly due to Honor sale
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Chinese telecommunications equipment vendor Huawei Technologies has seen its revenue for the first quarter of 2021 fall by 16.5% year-on-year to 152.2 billion yuan (A$30.5 billion), which the company said was as per its forecast.
In a statement, Huawei, a private company headquartered in Shenzhen, said revenue from its consumer business fell, partly due to
the sale of its budget smartphone unit Honor in November last year.
However, the company said its net profit margin, based on unaudited figures, had risen by 3.8 percentage points year-on-year to 11.1%.
This was put down to efforts to improve operations and efficiency. Patent royalties brought in US$600 million (A$770 million).