Huawei launches new foldable smartphone as competition with Xiaomi, Apple heats up

Huawei unveiled an upgraded version of its flagship foldable smartphone on Monday, aiming to maintain its dominance in China's premium handset market against rivals Apple and Xiaomi. The new Mate XT2 phone unfolds twice, opening into a tablet-sized display, and is powered by Huawei's latest Kirin 9050 Pro chip. This innovative chip design enables the device to offer superior computing power while consuming less energy, a key advantage considering US restrictions on advanced technology access.

Xiaomi is set to release a competing foldable phone later on Monday, while Apple is scheduled to showcase its latest iPhone series on Wednesday. Analysts expect Apple to also unveil a foldable device during their event. The Mate XT2 boasts a redesigned folding mechanism, enhanced water resistance, an optional privacy screen, and advanced camera capabilities. According to Huawei's own tests, the new model delivers 42% better overall performance compared to its predecessor.

With Huawei's smartphones prohibited in the US due to sanctions, the Chinese company leads the country's smartphone market with a 22.6% market share in the second quarter, surpassing Apple's 18.1%. Xiaomi holds 12.4% of the market, while Huawei maintains an even stronger position in the foldable phone segment, accounting for 68% of China's foldable phone shipments in the second quarter, as reported by US-based research firm Smart Analytics Global.