ISLAMABAD (PEN) : Huawei, the prominent Chinese tech company, revealed its groundbreaking new smartphone, claimed to be the world’s first triple-folding phone. This launch happened just hours after Apple unveiled its latest iPhone, which features advanced AI capabilities.
The Mate XT, showcased by Huawei executive Richard Yu at their headquarters in Shenzhen, is a bold new addition to the foldable phone market. Originally aimed at a niche market, the phone has already garnered impressive interest, with over three million people registering their desire to purchase it before its official release.
Sporting an elegant red and gold design, the Mate XT will hit the market on September 20, with prices starting at 19,999 yuan (about $2,800).
Yu emphasized Huawei’s leadership in the foldable phone industry, highlighting the substantial effort invested in overcoming challenges related to mass production and reliability.
This announcement follows Apple’s reveal of its iPhone 16, designed to leverage generative AI to drive sales and stay competitive in the tech landscape.
Currently, Huawei ranks as China’s fourth-largest smartphone manufacturer, having shipped 10.6 million units last quarter. The company was once the leading domestic smartphone maker before facing setbacks due to US sanctions, which severed its access to American technology and impacted its business. However, Huawei made a notable comeback last year with phones featuring locally produced chips.
In the foldable phone arena, Huawei dominates, holding over half of the market share in China for the first half of 2024. Analysts believe that the new trifold phone could enhance Huawei’s position as a technology leader. Toby Zhu from Canalys noted that it could solidify Huawei’s standing among consumers as a leader in the foldable phone sector.
However, some industry experts, like Ethan Qi from Counterpoint, think the trifold phone might not significantly impact Apple’s sales in the premium segment due to its high price and initial stock limitations. Qi suggested that Apple’s strong ecosystem and broad appeal would likely limit any substantial shift in market share.
