Chinese telecom giant Huawei said Tuesday its revenue grew at a sharply slower rate of just 1.4 percent in the first quarter, when the coronavirus and efforts to contain it shut down China's economy.

The figures released by unlisted Huawei are among the first by a major Chinese corporation to provide a glimpse of the scale of the business impact from the pandemic, which emerged in China in December before spreading globally.

January-March revenue came in at 182.2 billion yuan ($25.8 billion), a year-on-year increase of 1.4 percent, compared with growth of 39 percent reported during the same period in 2019, the company said in a statement.

The first-quarter net profit margin came in at 7.3 percent, compared to around eight percent last year.

Copyright Agence France-Presse, 2020


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