Chinese telecom giant Huawei said revenue for the first half of the year dropped 29.5% yearly to RMB 320.4 billion ($49.6 billion) on Friday. It is the company’s most significant revenue decrease since it faced US sanctions in May 2019. The company reported a 9.8% profit margin. Huawei said in a statement that its earnings were “in line with forecast.” [Huawei]