Huawei Unveils $2,800 Tri-Foldable Mate XT as Market Leaps

Huawei Technologies has launched the Mate XT, a $2,800 tri-foldable phone, aiming to bolster its dominance in the global smartphone market, especially in China. The release garnered 3.6 million pre-orders and comes amidst competition with Apple's new AI-powered iPhone 16. The foldable smartphone market saw substantial growth in Q2, with Huawei leading in sales.

China's Huawei Technologies showcased a $2,800 tri-foldable phone, the Mate XT, aiming to strengthen its hold on the world's largest smartphone market. The unveiling in Shenzhen came just hours after Apple introduced its new iPhone 16.

The Mate XT has drawn over 3.6 million pre-orders, despite requiring no deposit. The foldable smartphone market, which shipped around 4 million units in Q2, saw a year-on-year growth of 57%, according to IDC.

With a 10.2-inch display and prices starting at 19,999 yuan, the Mate XT is set to compete fiercely, though analysts suggest its high cost may restrict it to a niche market. Huawei's market share for foldable phones stands at 27.5% globally and 42% in China.

(With inputs from agencies.)