Huawei's $2,800 tri-fold phone hits stores amid supply concerns

Huawei and Apple’s latest smartphones go on sale in China on Friday (September 20, 2024).

Huawei and Apple’s latest smartphones go on sale in China on Friday (September 20, 2024) with the Chinese tech company’s much-anticipated $2,800 tri-foldable phone offered at more than twice the price of the iPhone 16 Pro Max.

However, analysts warn that supply chain constraints could leave many buyers of Huawei Technologies' Mate XT empty-handed.

The launch of the Mate XT, which analysts say has a locally-made chipset, underscores Huawei's ability to navigate U.S. sanctions and solidifies its position against Apple in China, where some consumers criticised the new iPhone 16 for its lack of AI features in the country.

Huawei unveiled the Mate XT to much fanfare this month, with executive director Richard Yu saying the company had turned "science fiction into reality" with the device that folds three ways like an accordion door.

Pre-orders have surpassed 6.5 million so far, almost double the roughly 3.9 million foldable smartphones shipped worldwide in the second quarter of this year, according to consultancy IDC, although "pre-ordering" does not require consumers to put down a deposit.

While the Mate XT shows Huawei's innovation in the premium segment, sales may fall short of its bi-folding predecessor, the Mate X5, which still retails for 11,500 yuan ($1,630) and has sold 2.2 million units in total as of the second quarter, said Amber Liu, an analyst with research firm Canalys.

Though both are premium foldable flagships of Huawei, Mate XT and Mate X5 differ in value proposition, specifications and price, Liu said.