Huawei Logs Its First Annual Sales Drop in 2021 Amid U.S. Clampdown

(Nikkei Asia) — Huawei Technologies suffered a nearly 29% decline in revenue for 2021, the first full-year drop the Chinese tech champion has ever reported, as it continues to battle a long U.S. clampdown that has blocked its use of American technologies.

Huawei’s rotating chairman, Guo Ping, said revenue for 2021 reached 634 billion yuan ($99.43 billion), down 28.8% from the 891.4 billion it made a year ago. In 2020, Huawei’s revenue grew 3.8%.