Huawei’s revenue growth slows sharply as Covid-19 & US sanctions bite

Chinese telecoms giant

Chinese telecoms giant Huawei said the company’s revenue growth slowed significantly in the third quarter of 2020 as a result of the Covid-19 pandemic and US sanctions, which had disrupted its business.

Revenue for the September quarter came in at 217.3 billion yuan ($32.55 billion) – up just 3.7 percent from the 209.5 billion yuan ($31.39 billion) recorded in the same period last year. 

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