Huawei will return to smartphone 'throne' despite crippling sanctions, chairman says
The HinduHuawei Technologies' chairman said while U.S. sanctions have choked its smartphone business, it will not give up and plans to eventually return to the industry's "throne". In 2019 former U.S. President Donald Trump accused Huawei of being a threat to national security, put it on an export blacklist and barred it from accessing critical technology of U.S. origin, affecting its ability to design its own chips and source components from outside vendors. Huawei, once briefly the world's biggest smartphone vendor, dropped out of the ranks of China's top five sellers in the latest quarter, the first time in more than seven years, according to research firm Canalys. Huawei's revenue tumbled 29% in the first half of this year,its biggest ever fall, with revenue from its consumer business group which includes smartphones, diving 47% to 135.7 billion yuan.