 "The Mate XT’s introduction could solidify Huawei’s dominance in the foldable smartphone sector, with the company already holding a leading 56 per cent market share in mainland China’s foldable segment during the first half of 2024. Image Credit: Huawei")
Huawei Technologies has sparked significant excitement with its latest innovation, the Mate XT, which has garnered over 3 million pre-orders within just two days of its launch. This unprecedented interest highlights the growing allure of foldable smartphones and positions Huawei as a formidable competitor ahead of Apple’s iPhone 16 release.
The Mate XT, claimed to be the world’s first tri-fold smartphone, saw pre-orders start on September 8 through Huawei’s official e-commerce platform, Vmall.com. Despite no requirement for a deposit, reservations are flooding in, with the official sales set to begin on September 20.
However, due to high demand and a lack of immediate availability, a grey market has emerged, with scalpers listing the Mate XT for prices as high as 20,000 yuan (approximately US$2,821) on platforms like Xianyu, Alibaba Group’s online flea market.
Market impact
Although Huawei has yet to disclose the full specifications and pricing of the Mate XT, the reservation page indicates that the device will come in red and black, featuring 16GB of RAM and storage options of 512GB or 1TB.
This high level of interest underscores Huawei’s strategic positioning against Apple’s upcoming iPhone 16 launch event, named “It’s Glowtime”
Huawei’s pre-order numbers suggest it is effectively overshadowing Apple’s autumn release, showcasing its ability to generate buzz and demand in the super-competitive Chinese smartphone market.
The Mate XT’s introduction could solidify Huawei’s dominance in the foldable smartphone sector, with the company already holding a leading 56 per cent market share in mainland China’s foldable segment during the first half of 2024.
Impact Shorts
More ShortsGrowth in the foldable smartphone market
China remains the largest market for foldable smartphones, accounting for half of global shipments in the second quarter of 2024. According to Canalys, more than 1.5 million foldable devices were shipped in the mainland during this period, reflecting a 21 per cent increase from the previous year.
IDC reports that total foldable smartphone shipments in China reached 7.01 million units in 2023, marking a significant 114 per cent growth from 2022. Huawei led this market with a 37.4 per cent share, driven by the success of its Mate X5 model released last September.
Huawei’s Future Prospects
Richard Yu Chengdong, chairman of Huawei’s consumer business group, was recently seen using the Mate XT, indicating the company’s confidence in the device’s design and functionality. The tri-fold smartphone’s design, featuring dual hinges, is anticipated to set a new benchmark in foldable technology.
Counterpoint Research’s Ethan Qi believes that Huawei’s approach — balancing weight, thickness, and reliability — will enhance consumer acceptance and help the company refine its expertise in complex foldable devices. This move could significantly impact Huawei’s market position as it competes with Apple, particularly in light of Apple’s recent struggles in the Chinese market.
As Huawei continues to innovate and expand its foldable lineup, the competition with Apple is likely to intensify, with both companies vying for dominance in a rapidly evolving technology landscape. The Mate XT’s impressive pre-order numbers reflect a growing consumer appetite for cutting-edge foldable technology, setting the stage for a dynamic showdown between these tech giants.