Triple-folding phone by Huawei: High demand sparks resale market with price hikes

Huawei unveiled the world's first triple-folding smartphone Yesterday (Sept. 10), the Huawei Mate XT. Yu Chengdong, Executive Director and Chairman of Huawei's Terminal BG and Intelligent Automotive Solutions BU stated that Huawei team has worked for five years to bring it to fruition.

The Huawei Mate XT measures 156.7mm long, with a width of 73.5mm in single-screen mode, 143mm in dual-screen mode, and 219mm in triple-screen mode. The device is only 12.8mm thick when folded and weighs approximately 298g. The innovative triple-folding design allows the device to unfold into a tablet-like format while being compact enough to fit into a pocket when folded.

From a craftsmanship perspective, the triple-folding design poses significant challenges, making Huawei the only company globally to launch such a device.

Yu Chengdong mentioned that Huawei has been exploring the folding phone market, symbolizing the product's commitment to innovation.

However, the price of the first triple-folding phone is quite steep, with the 256GB version priced at ¥19,999, the 512GB version at ¥21,999, and the 1TB version at ¥23,999.

Following the launch, terms like #HuaweiTripleFoldingPriceFrom19999# quickly trended on social media, with many users expressing concerns over the high prices.

Despite its cost, the new device performed exceptionally well during its pre-sale. Reservations for the Huawei Mate XT opened on September 7 at 12:08 PM, and the number of pre-orders rapidly exceeded 10,000 as soon as the booking channel was launched.

Reports indicate that due to the current scarcity of supply, many scalpers are already gearing up to capitalize on the situation, leading to a resurgence of price gouging in the smartphone market.

If the Huawei Mate XT sells out, it will join the ranks of last year's Huawei Mate 60 Pro as another phenomenal product.

On a second-hand trading platform revealed numerous sellers advertising the Huawei triple-folding phone at inflated prices. These sellers claim to have successfully placed orders with Huawei and offer to resell the devices at a markup once they receive them. Some are increasing prices by ¥5,000, ¥8,000, or even over ¥10,000. Clearly, these scalpers are looking to profit significantly from this wave of demand.

According to the latest quarterly smartphone tracking report from market research firm IDC, China's smartphone market saw an 8.9% year-on-year shipment increase in Q2 2024, totaling approximately 71.58 million units. Huawei holds a market share of 18.1%, ranking second with a 50.2% increase compared to the same period last year.

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