SHENZHEN: Hit hard by various US sanctions, Chinese conglomerate Huawei on Wednesday reported 16.5 per cent decline in sales for the first quarter of 2021, due in part to selling the Honor smart device brand in November 2020. The company, however, said that its net profit margin was up 3.8 percentage points (year-on-year) at 11.1 per cent which was the result of the company's ongoing efforts to improve quality of operations and management efficiency, as well as a patent royalty income of $600 million. (IANS)