Chinese smartphone brands Huwaei and Xiaomi unveiled their latest iterations on the foldable smartphone concept days before Apple announces its 'iPhone Ultra' on Sept. 9,2026 at its 'Surprise And Shine' event.
The companies debuted the Mate XT 2 and the Xiaomi 18 Fold respectively on Monday with unique features and innovations. The Mate XT 2, going on sales in China on Friday, is the successor to the Mate XT which came out two years ago. It retails at a 10% higher price at 19,999 yuan or $2,980, as per Bloomberg.
ALSO READ: iPhone Ultra: Apple's First Foldable Model Could Cost $2,000, Have 7.8-Inch Display
The device is known for its 'trifold' feature where it has two distinct folding processes, with the ability to unfurl into a 10.2 inch tablet. The basic version has 16 GB of memory and 256 GB of storage. It also introduced the company's 'LogicFolding' chip design in the form of the Kirin 9050 processor, This alternative design philosophy was evolvced as US-led restrictions affected the firm's access to advanced lithography tools, as per emiconductor chief He Tingbo.
He also addressed concerns of the chip overheating by stating that the firm had achieved notable reduction in power consumption in the aforementioned semiconductor.
“The chip was cooler than its predecessor while comprising 55% more transistors per square millimeter and delivering as much as 66% power reduction on some key tasks,” Tingbo said in his paper as cited by Bloomberg.
Similarly, Xiaomi Chief Executive Officer Lei Jun launched the Xiaomi 18 Fold on Monday, priced at 10,999 yuan for the 256 GB edition. It is designed akin to a passport in a style similar to the anticipated look of the iPhone Ultra. The device's memory compenents are sources from the Chinese semiconductor manufacturer CXMT Corp. and uses the firm's Xring 03 processor.
"Right now, memory is very expensive. So our pricing isn't cheap but it's definitely good value for your money," Lei stated at an event in Beijing, as per Bloomberg.
Apple's first foldable iPhone is expected to cost more than $2,000. Its launch could bring more attention to a segment where Chinese smartphone makers and Samsung Electronics have already established a presence.
Foldable smartphones have remained relatively strong in China even as the broader smartphone market has declined.
“Apple has the world's biggest premium device installed base. Its foldable will sell well and rapidly grab market share,” Counterpoint analyst Ivan Lam said, according to Bloomberg. He expects Apple's entry to drive wider adoption of foldable smartphones, which could also benefit rival manufacturers.
Xiaomi's profit has fallen for three consecutive quarters as the company reduced shipments of low-end smartphones, which generated lower returns. Huawei has continued to see shipment growth, but its profit also declined in the first half. The company increased component inventories partly to manage higher memory costs.
Huawei, Xiaomi and Honor also raised smartphone prices earlier this month, local media outlet Jiemian reported.
Global smartphone shipments are expected to record their sharpest decline on record this year, with volumes projected to fall 14%, according to Counterpoint data. Chinese smartphone makers face significant pressure because of their higher exposure to budget devices, which have less room to absorb rising component costs.
Smartphone makers are increasingly turning to premium segments such as foldables to offset these pressures and raise average selling prices.
ALSO READ: Apple To Roll Out iOS 27 With Major AI Upgrades: Check If Your iPhone Is Eligible
Huawei and Xiaomi launched their latest foldable smartphones shortly before Apple's expected product event on Wednesday. This gives the Chinese companies an opportunity to promote their devices before Apple enters the segment.
Apple may likely account for 25% of the global foldable smartphone market in 2026 and potentially become the market leader with a 41% share next year, according to projections by Smart Analytics Global.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
