Huawei Technologies has launched its tri-foldable smartphone, the Mate XT, with a price tag starting at $2,800.
The starting price of $2,800 has raised question mark. Analysts are asking about the affordability of Mate XT.
The innovative device, available in red and black, boasts a 10.2-inch display and is 3.6mm wide, making it the world’s slimmest foldable phone, according to the company. Pre-orders for the Mate XT have already surpassed 3.6 million, despite no deposit being required.
At the product launch, Huawei executive director Richard Yu emphasized the significance of the device, stating, “Today we bring you a product that everyone can think of but could not make. Our team has been working hard for five years and has never given up.”
The Mate XT also features a keyboard attachment that fits in your pocket and offers versions with 256GB, 512GB, and 1TB of storage.
The foldable smartphone market has been rapidly expanding, growing 57 percent year-on-year in the second quarter of 2024. However, foldable phones still account for only 1.3 percent of the overall smartphone market, with just under 4 million units shipped globally in Q2. Huawei leads this market with a 27.5 percent share, overtaking Samsung, which holds 16.4 percent.
Meanwhile, Apple has introduced its iPhone 16, which includes AI capabilities, with both the Mate XT and iPhone 16 set to hit the market on September 20. Despite Huawei’s dominance in the foldable segment, analysts expect the high price of the Mate XT — more than twice the starting price of Apple’s iPhone 16 Pro Max — will limit its appeal to niche customers, serving more as a symbol of Huawei’s technical achievements.
Huawei’s success in the foldable space comes amid broader changes in the smartphone market. In China, Huawei’s latest models helped it climb to third place among overall smartphone vendors in the second quarter, while Apple dropped to sixth place. Globally, Huawei’s resurgence has been fueled by strong domestic sales and its expansion into overseas markets, despite ongoing U.S. sanctions.
