The device features a dual-fold design, a new Kirin 9050 Pro chip, and advanced folding technology, as the Chinese tech giant faces growing competition from Xiaomi and Apple, both set to unveil foldable devices later in the month.
Huawei unveiled its latest foldable smartphone, the Mate XT2, on September 7, 2026, marking a significant step in its bid to maintain dominance in China’s premium smartphone market. The device, which folds twice to reveal a tablet-sized screen, starts at 19,999 yuan ($2,980) and reaches up to 24,999 yuan ($3,725). The launch coincides with heightened competition from Xiaomi and Apple, both of which are set to debut their own foldable phones later in September.
Huawei’s New Foldable Phone: Specs and Pricing
Prices for the Mate XT2 start at 19,999 yuan ($2,980), with the most expensive variant costing 24,999 yuan ($3,725). The device is set to go on sale starting September 12. Huawei’s foldable phones currently hold 68% of the Chinese market, according to Smart Analytics Global, a U.S.-based research firm.
Rival Strategies: Xiaomi and Apple’s Moves
Xiaomi is preparing to launch its first foldable phone on September 7, 2026, with a “medium-fold” design featuring a standard paper aspect ratio of √2:1. Apple, meanwhile, is expected to unveil its first foldable iPhone at an autumn event on September 10, according to Bloomberg. The iPhone’s screen is rumored to have a 4:3 aspect ratio when unfolded. Both companies are entering a market dominated by Huawei, which remains the only major brand offering a tri-fold device. Samsung, the global leader in foldable phones, discontinued its tri-fold model after three months but expanded its lineup with a passport-sized foldable in July.
The competition is intensifying as more manufacturers enter the foldable space. According to a report from eu.36kr.com, companies like vivo, OPPO, and Honor are also planning wide-fold devices, with launches expected in 2026 and 2027. This surge reflects a broader industry shift, as foldable phones transition from niche experiments to mainstream products. However, challenges remain, including software ecosystem limitations and consumer skepticism over durability and value.
Market Context: Growth and Challenges
Foldable phones have seen rapid growth since their inception, but recent data indicates a slowdown. From 2020 to 2022, China’s foldable phone shipments grew from 470,000 to 3.3 million units, but the compound annual growth rate dropped to 19.52% between 2023 and 2025. In 2026, the market entered a period of negative growth, with sales volume and revenue falling 10% and 9% year-on-year, respectively, from January to July. Despite hardware improvements—such as OPPO’s Dome Memory Glass and titanium alloy hinges—software fragmentation and high prices continue to hinder mass adoption.
Huawei’s dominance in the foldable segment is evident, with 22.6% of China’s smartphone market share in Q2 2026, compared to Apple’s 18.1% and Xiaomi’s 12.4%. However, the company faces risks from U.S. sanctions, which prevent it from selling in the American market. Meanwhile, Apple’s entry into the foldable space could disrupt the competitive landscape, particularly if its device addresses current pain points like screen durability and software optimization.
What Comes Next: Industry Implications
The rapid expansion of foldable phones signals a pivotal moment for the smartphone industry. Huawei’s latest launch underscores its commitment to innovation, even amid geopolitical challenges. However, the success of Xiaomi and Apple’s upcoming devices will depend on their ability to differentiate in a crowded market. Analysts note that while hardware improvements are critical, software ecosystems and pricing strategies will ultimately determine the long-term viability of foldable phones.
As more manufacturers enter the foldable space, the focus will shift to affordability and usability. Huawei’s pricing strategy—starting at $2,980—highlights the premium nature of the technology, but it also raises questions about accessibility. With Apple’s potential entry and Xiaomi’s aggressive marketing, the race to capture consumer interest is just beginning. The next few months will reveal whether foldable phones can transition from novelty to necessity.
