10-9-2024 (SHENZHEN) Chinese technology behemoth Huawei has announced that its forthcoming triple-folding smartphone, the Mate XT, has garnered an impressive 3 million pre-orders. This revelation, made public on Monday, comes mere hours before Apple’s highly anticipated unveiling of its new iPhone lineup, setting the stage for an intense rivalry in the global smartphone market.
The Mate XT, boasting a revolutionary Z-shaped tri-fold design, is scheduled for its grand debut at a launch event on Tuesday. Huawei’s official WeChat account has been abuzz with promotional activity, stoking excitement among tech enthusiasts and loyal customers alike.
In an unconventional move, Huawei has opted for a no-deposit pre-order system. Interested customers who have registered their interest will receive detailed purchasing information on the day of the launch, eschewing the traditional down payment model often associated with pre-orders.
This overwhelming response to the Mate XT serves as a testament to Huawei’s resilience and innovation in the face of stringent US sanctions. It also underscores the company’s formidable position as a key competitor to Apple, which earlier this year implemented price cuts in an effort to maintain its market share in the fiercely competitive Chinese market.
The timing of Huawei’s launch event is particularly noteworthy, following hot on the heels of Apple’s September 9th event. At this gathering, the Cupertino-based tech giant is expected to unveil its iPhone 16 range, with a strong emphasis on artificial intelligence integration in its flagship devices.
Huawei’s dominance in the foldable phone segment is well-established, particularly in its home market. Research firm Canalys reports that Huawei commanded a 56% share of China’s foldable phone market during the first half of 2024, comfortably leading its nearest competitor, Honor, a former Huawei sub-brand.
China’s appetite for foldable smartphones appears insatiable. The country accounts for half of global shipments in this category, with over 1.5 million foldable handsets shipped in the second quarter alone. In 2023, mainland China saw shipments of 7.01 million foldable units, with Huawei’s Mate X5 model, launched in September of that year, spearheading the charge.
