Sanction hit Huawei says revenues down 29 percent this year

Chinese telecom giant Huawei said on Friday its annual revenue had fallen by nearly a third from the previous year, as it continued to be weighed down by US sanctions that have hit its smartphone sales. Huawei has been caught in the crossfire of a US-China trade and technology rivalry after the administration of former president Donald Trump moved to cripple the company over concerns it could pose a cybersecurity and espionage threat.
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