BEIJING (AP) — Embattled Chinese tech giant Huawei says its revenue fell in the first quarter of 2021 after it sold its lower-priced Honor smartphone brand but profitability improved. The company said its sales declined 16.5% from a year earlier to 152.2 billion yuan ($23.5 billion). It gave no earnings figure but said its net profit margin improved by 3.8 percentage points to 11.1%. Huawei Technologies Ltd., China’s first global tech brand, has struggled to retain its global market share following U.S. sanctions that devastated its smartphone sales, once among the world’s highest. The company also is the biggest maker of network gear used by phone and internet carriers.
