Huawei Technologies saw reservations for its new Mate XT, the world’s first tri-fold smartphone, surge to more than 3 million after pre-orders started over the weekend, with scalpers listing the handset for at least 20,000 yuan (US$2,821) on the grey market.
Around 3.04 million people have made reservations to buy the Mate XT as of Monday afternoon, just two days after Shenzhen-based Huawei launched pre-orders for its latest 5G smartphone model via its official e-commerce platform Vmall.com.
Reservations on Vmall.com, which does not require a deposit, will conclude on September 19. Still, those who reserved their spot have no guarantee to immediately get their order when sales commence on September 20, according to Huawei.
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That has somehow created a grey-market service, worth 100 yuan to 600 yuan, to help those who pre-ordered Mate XT to get the device when sales start. Scalpers’ asking price for the Mate XT has reached at least 20,000 yuan, according to checks made on Xianyu, the online flea market of Alibaba Group Holding, owner of the South China Morning Post.
Sales of Huawei Technologies’ Mate XT tri-fold smartphone will start on September 20. Photo: Handout alt=Sales of Huawei Technologies’ Mate XT tri-fold smartphone will start on September 20. Photo: Handout>
Privately held Huawei has not provided any details about the Mate XT’s price or full specifications. The online reservation page currently shows that the tri-fold handset will be available in two colours, red and black, and with 16-gigabyte random access memory, as well as internal storage options of 512GB and 1 terabyte.
The large number of Mate XT pre-orders reflects how Huawei appears to be stealing Apple‘s thunder ahead of its new iPhone launch event – “It’s Glowtime” – on September 10. Huawei will formally introduce the Mate XT shortly after Apple concludes its event on Tuesday.
“The new product launch can consolidate Huawei’s leading position in the foldable field,” Ethan Qi, associate director at Counterpoint Research, said on Monday.
Huawei led the foldable smartphone segment in mainland China, with a 56 per cent share in the first half of this year, followed by its spin-off brand Honor with 13 per cent, according to data from research firm Canalys.
China is the world’s biggest foldable smartphone market, accounting for half of global shipments in the second quarter, according to Canalys. More than 1.5 million foldable handsets were shipped on the mainland that quarter, up 21 per cent from the same period in 2023.
Huawei Technologies’ Mate XT tri-fold smartphone expands into tablet form. Photo: Handout alt=Huawei Technologies’ Mate XT tri-fold smartphone expands into tablet form. Photo: Handout>
Mainland foldable smartphone shipments last year reached 7.01 million units last year, up 114 per cent from 3.2 million in 2022, according to research firm IDC. Huawei led the market with a 37.4 per cent share, driven by demand for its popular Mate X5 model launched in September last year.
The popular foldable devices include clamshell-type handsets that flip open vertically and those designed like a booklet that expand horizontally into tablet form.
While Huawei has largely managed to keep the Mate XT under wraps, Richard Yu Chengdong, chairman of the company’s consumer business group, last month was spotted using the dual-hinged foldable smartphone, according to pictures circulating on Chinese social media.
“It’s wise for Huawei to launch a product with acceptable weight, thickness and reliability … as consumer acceptance continues to rise,” Counterpoint’s Qi said. “This process can help Huawei build its experience in developing more complex foldable smartphones.”
Competition between Huawei and Apple in China has taken on new significance, as the US-sanctioned telecommunications equipment giant has seen a revival of its smartphone business amid the US tech giant’s recent struggles in the domestic market.
This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP’s Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.
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