Chinese tech giant Huawei unveiled the world’s first triple-folding phone on Tuesday, priced at over three times that of the latest iPhone, just hours after its US competitor launched its own AI-focused handset.
The Mate XT was introduced during a keynote presentation by Huawei executive Richard Yu at the company’s headquarters in Shenzhen.
Originally intended as a premium device for a niche market, the Mate XT attracted significant interest, with more than three million registrations ahead of its launch.
The phone is set to hit the market on September 20, starting at a staggering $2,800—more than three times the price of the new iPhone 16.
Showcased in an elegant red and gold design, the device can be transformed into a 10.2-inch (26-centimeter) tablet and weighs 298 grams (10.5 ounces).
“This is the world’s first triple-folding phone,” Yu stated during the keynote.
“We have invested substantial effort into overcoming challenges related to mass production and product reliability,” he added.
The Mate XT’s release follows Apple’s announcement of the iPhone 16, which is designed for generative artificial intelligence in a bid to enhance sales and maintain competitiveness in the tech industry.
Competing with Apple?
Analysts suggest that Huawei’s new trifold phone is unlikely to significantly impact Apple’s sales in the premium smartphone market, considering its high price and Apple’s strong presence in China.
“Its impact on Apple’s market share is likely to be very limited,” said Ethan Qi, associate director at research firm Counterpoint, citing Apple’s popularity in the region.
However, Toby Zhu, a senior analyst at Canalys, noted that the launch would reinforce Huawei’s position as a technological leader in the foldable phone sector. He remarked that the premium pricing may not deter affluent consumers, as “the purchasing power of China’s wealthiest individuals has increased despite the challenging economic environment.”
Once the largest domestic smartphone maker in China, Huawei has faced challenges due to the ongoing tech war between Washington and Beijing. It is now the country’s fourth-largest smartphone manufacturer, with 10.6 million units shipped in the last quarter, according to a recent Canalys report.
US sanctions have limited its access to American technology and hindered its smartphone business. Nevertheless, Huawei made a surprising comeback last year with smartphones powered by domestically produced chips.
The company currently holds the largest share of the foldable phone market in China, commanding over half of the domestic market in the first half of 2024.
