Huawei’s new high-end smartphone has received more than 6 million pre-orders since its launch. The huge demand for the Huawei Mate XT has forced online retailers to raise prices, according to the South China Morning Post (SCMP).
The price hike was mainly seen in Huaqiangbei, Shenzhen. Both online and offline retailers are pricing the Mate XT at more than 60,000 to 70,000 yuan ($9,866). For reference, the original price of this tri-fold smartphone is 19,999 yuan ($2,800).
Some online retailers, such as Alibaba’s Xianyu, have priced the device at between 30,000 yuan and 100,000 yuan. On the other hand, the iPhone 16 series has seen price cuts shortly after its launch. Pinduoduo has slashed the price of the iPhone 16 Plus (512GB) by 10%, selling it for 8,999 yuan ($1,268). The standard iPhone 16 model is discounted by 11%.
The price reduction of iPhone 16 right after its launch shows that Huawei continues to receive more attention and interest than Apple in the Chinese market.
Many retailers have even announced that they will deliver the new Huawei tri-fold phone on the launch day of September 20. Regarding the reason for the Huawei Mate XT price increase, Lin Shen, one of the used phone dealers, said: “Prices in Huaqianbei are still very unstable. Most of the interest comes from speculators who want to resell the Mate XT and make a profit from the price difference.”
Retailers are trying to capitalize on the growing demand for the Mate XT, he added. To date, around 6.3 million people have pre-ordered the device at official VMall stores. Despite limited supply, consumers are eager to get their hands on the innovative device.
Unlike other products, Huawei does not guarantee fast or priority delivery for this product line. A major reason behind this limitation is the short production time of the Mate XT.
Another retailer said the resale price of the first foldable phone depends on whether they get their hands on the device after it officially launches.
The Huawei Mate XT is a device that is attracting attention right now – thanks to its dual-hinge solution, thin-screen technology, and great AI features. The device will go on sale on September 20.
