Just hours after US rival Apple debuted its new iPhone designed with artificial intelligence, Chinese tech giant Huawei on Tuesday introduced its new smartphone, which it claims to be the first trifold phone in history.
At the company’s headquarters in the southern city of Shenzhen, Huawei executive Richard Yu made an official keynote address introducing the Mate XT.
Prior to its release, more than three million people expressed interest in purchasing the Mate XT, which was initially intended as a high-end phone for a specific market.
The device will go on sale officially on September 20 and start at a whopping $2,800, which is more than three times the price of the recently released iPhone 16.
The phone, which is marketed with a sleek red and gold look, weighs 298 grams and has a 10.2 inch (26 centimeter) tablet mode.
During the keynote, Yu declared, “This is the first triple-folding phone in the world.”
He continued, “We have worked extremely hard to find solutions to the issues with mass production and product reliability.
Its release follows Apple’s announcement of the iPhone 16, which is designed to leverage generative artificial intelligence to increase sales and stay competitive in the technology space.
Going up against Apple?
Given its pricing and the California company’s stronghold in China, one analyst predicted that the release of Huawei’s trifold phone would not significantly affect Apple’s sales in the premium phone market.
Given Apple’s popularity in the nation, “its impact on Apple’s market share is likely to be very limited,” according to Ethan Qi, associate director at research firm Counterpoint.
However, a second person said that it would strengthen the business’s “technological leadership.”
According to Toby Zhu, senior analyst at Canalys, “it will fortify its position as a leader in the foldable phone sector among consumers.”
Additionally, he stated that “the purchasing power of China’s most affluent consumers has increased despite the less favourable general economic climate,” suggesting that the high price may not necessarily dissuade the target consumer group.
Prior to getting entangled in a tech conflict between Beijing and Washington, Huawei was the biggest domestic smartphone manufacturer in the nation.
According to a recent analysis by research firm Canalys, it is currently China’s fourth-largest smartphone manufacturer, shipping 10.6 million units in the most recent quarter.
Prior to getting entangled in a tech conflict between Beijing and Washington, Huawei was the biggest domestic smartphone manufacturer in the nation.
Its smartphone business was severely damaged by US sanctions that prevented Iran from accessing US technology, but it unexpectedly returned last year with cellphones that used chips produced in the country.
In the first half of 2024, it held a dominant market share of more than 50% in China, making it the country’s top-selling foldable phone.
According to analysts, the company’s “technological leadership” might be further enhanced by the release of its trifold phone.
According to Toby Zhu, senior analyst at Canalys, “it will fortify its position as a leader in the foldable phone sector among consumers.”
Nevertheless, considering its cost and the initial overstock, another industry watcher predicted that it wouldn’t have a significant impact on Apple’s sales in the premium phone market.
Given Apple’s robust ecosystem and wider appeal, its influence on the company’s market share is probably going to be very little, according to Ethan Qi, associate director at research firm Counterpoint.
