What's happened
Huawei's Mate XT tri-fold smartphone launched today in China, coinciding with Apple's iPhone 16 release. The Mate XT garnered over 6.5 million preorders, while Apple faces declining sales in the competitive Chinese market. Both companies are emphasizing AI features, but Huawei's device is priced significantly higher than Apple's offerings.
Why it matters
What the papers say
According to Business Insider UK, Huawei's Mate XT received over 6.5 million preorders, showcasing its popularity despite a high price tag of $2,800. In contrast, the NY Post reported that many eager customers were disappointed when they learned they could only purchase the phone if they had preordered. The South China Morning Post highlighted that scalpers are listing the Mate XT for inflated prices, reflecting its high demand. Meanwhile, Apple faces challenges as its iPhone 16 sales have reportedly declined, with discounts appearing on various platforms, indicating a potential shift in consumer interest.
How we got here
The Mate XT's launch follows a year of intense competition between Huawei and Apple in China, where Huawei aims to reclaim market share lost to Apple. The device's innovative tri-fold design and advanced features have generated significant consumer interest, leading to high preorder numbers.
More on these topics
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Huawei Technologies Co., Ltd. is a Chinese multinational technology company headquartered in Shenzhen, Guangdong. It designs, develops, and sells telecommunications equipment and consumer electronics.
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Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
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Shenzhen is a major sub-provincial city on the east bank of the Pearl River estuary on the central coast of southern Guangdong province, People's Republic of China.