Key Takeaways
Huawei is making a bold statement in the smartphone market with the launch of its latest device, the Mate XT, a tri-foldable smartphone priced at $2,800.
The launch took place in Shenzhen, China, hours after Apple introduced its new iPhone 16. Huawei’s new device comes with a unique design that allows it to fold in three ways, resembling an accordion screen door, a feature that has caught the attention of many consumers.
Have to appreciate Huawei for its tremendous growth even though the US government blocked its major revenue
— Javeeth (@ijaveeth) September 10, 2024
The Mate XT has already attracted massive attention, with more than 3.6 million pre-orders in China alone.
According to Huawei’s website, these pre-orders do not require a deposit, indicating high consumer interest and curiosity.
Meanwhile in Cupertino: we introduced new button. #courage
— Sugi (@maestrosugi) September 10, 2024
For context, the entire global market for foldable phones was around 4 million units in the second quarter of this year, suggesting that Huawei’s new model has already garnered a massive share of potential demand.
During the launch event, Richard Yu, Huawei’s executive director, emphasized the company’s commitment to pushing technological boundaries.
The Mate XT is available in red and black featuring a 10.2-inch display screen. At just 3.6mm wide, it is touted as the world’s slimmest foldable phone.
The device also includes a keyboard attachment that fits in a pocket, adding a practical element to its design.
foldables are good enough, no need for triple fold
— Mubarak (@Mubarak_A_A_A) September 10, 2024
Prices for the Mate XT start at 19,999 yuan ($2,800) for the 256-gigabyte model, with higher memory options available for 21,999 yuan and 23,999 yuan.
This launch comes as Huawei continues to navigate the impact of U.S. sanctions, which have restricted its access to certain technologies and supply chains.
Any real world demos? I’d like to see the actual screen. 🙂
— Kol Tregaskes (@koltregaskes) September 10, 2024
Despite these challenges, Huawei has positioned itself strongly in the smartphone market, particularly in China.
The company’s latest launch seems to be aimed at countering Apple’s presence in the region, where some consumers have expressed disappointment with the lack of AI features in the new iPhone 16.
Apple, which previously enjoyed strong demand in China, has seen its market share drop from third to sixth place in the world’s second-largest economy.
In contrast, Huawei has made a notable return to the high-end smartphone segment with devices like the Mate 60 Pro, which features a domestically-made chip that surprised both analysts and U.S. officials.
After few more folds a phone could transform into laptop, then TV 😂
— Prashant | AI (@Prashant_1722) September 10, 2024
This comeback reflects Huawei’s ability to adapt and innovate, even under challenging circumstances.
Huawei now leads the global foldable phone market, surpassing Samsung to become the largest vendor of these devices.
The market for foldable smartphones grew 57% year-on-year in the second quarter, reaching 3.9 million units shipped.
I mean, there’s an overpriced phone but yet, more practical, and the other one, which has the price of the Mate X5 ($1800), X Fold3 Pro ($1400), Mix Fold4 ($1300), Magic V3 ($1300), Z Fold6 ($1300)…
— 🍃 (@nikewrayy) September 9, 2024
Despite this growth, foldable phones still represent just 1.3% of the wider smartphone market, which saw 292.2 million smartphones shipped in the same period.
Huawei holds a 27.5% market share in the foldable segment, ahead of Samsung’s 16.4%. In China, Huawei’s share rises to 42%, making it the leader over competitors like Vivo and Honor, the latter being a former Huawei unit spun off in 2020 due to U.S. sanctions.
Holy shit that design looks sick, I love the Red & Gold colors
— T3 (@CockEater100) September 9, 2024
Analysts suggest that while the tri-fold Mate XT may not become a major revenue driver due to its high price—more than twice the starting price of the iPhone 16 Pro Max—it demonstrates Huawei’s technological capabilities and ambitions in the high-end market.
It may not sell in massive volumes, but it helps position Huawei as a leader in innovation, particularly in the foldable smartphone category.
Personally, I prefer a good device to one that’s a gimmick. That being said you’re welcome to buy these devices. Not everyone buys based on novelty and what tickles their tech brain. Otherwise everyone would be buying Apple vision pros, right?
— Meandering Mystic (@mean_mystic) September 10, 2024
Overall, introducing the Mate XT adds another layer to the ongoing competition between Huawei and Apple, particularly in China, where the preferences of tech-savvy consumers continue to evolve.
Excellence in smartphone engineering one and only – #Huawei
— SK (@techsnlife) September 9, 2024
This launch is not just about sales numbers but also about reinforcing Huawei’s brand image as a company that pushes the boundaries of what is technologically possible, even when faced with significant external pressures.
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