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

On Monday, Huawei unveiled a new version of its flagship foldable smartphone, aiming to maintain its dominance in the Chinese premium handset market against competitors Apple and Xiaomi. The Mate XT2 features a folding mechanism that expands twice to reveal a tablet-sized display and is powered by Huawei's Kirin 9050 Pro chip. This chip is designed to deliver more computing power while consuming less energy, allowing Huawei to circumvent U.S. restrictions on advanced technology access.

Xiaomi introduced a competing foldable phone on the same day, while Apple is set to reveal its latest iPhone series on Wednesday, with high expectations that a foldable phone will be announced as well. The Mate XT2 boasts an improved folding mechanism, enhanced water resistance, an optional screen that conceals the display from nearby viewers, upgraded cameras, and delivers 42% better overall performance compared to its predecessor, according to company tests.

Huawei, which has no presence in the U.S. due to sanctions, leads China's smartphone market with a 22.6% share in the second quarter, surpassing Apple's 18.1%, as reported by consultancy IDC. Xiaomi holds a 12.4% market share. Huawei also holds a significant lead in the folding phone segment, with 68% of shipments in China during the second quarter, according to Smart Analytics Global, a U.S.-based research firm.