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China’s Huawei says revenue down 2.2% so far this year


BEIJING (AP) — Figures reported by Chinese tech giant Huawei indicate its revenue rose in the latest quarter as infrastructure sales helped to offset damage to its smartphone business from U.S. sanctions. The company is the biggest global maker of network gear for phone carriers. It said revenue in the first nine months of 2022 declined 2.2% from the year before. Based on data released earlier, that suggested third-quarter revenue rose 6.5% from a year ago. Huawei Technologies Ltd. is China’s first global tech brand. It has struggled since then-President Donald Trump blocked access to U.S. processor chips and other technology in 2019. The company denies American accusations it is a security risk and might facilitate Chinese spying.

Article Topic Follows: AP National

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