Huawei expects 2021 revenue to drop by 28.9% as sanctions drag on

Chinese telecommunications giant Huawei said Friday it expects revenue for this year will come in at 634 billion yuan ($99 billion), a 28.9% drop from a year ago. The company has suffered from U.S. sanctions, the semiconductor shortage and a global slump in demand for smartphones. The full-year estimate for 2021 indicates Huawei’s revenue for the second half of the year declined from that of the