Huawei Technologies has launched the world's tiniest, lightest folding screen phone that taps into the "gold road" in the mobile phone market, overgrowing and high profits.
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It’s the fifth phone that folds released in the last three years, manufactured by Huawei, the top manufacturer of phones of this type in China, with a whopping 49 percent of the market.
The Huawei Mate Xs2 weighs 250 grams and is 20 percent lighter than other models on the market.
It’s the industry’s largest and lightest large-screen folding mobile phone, according to Richard Yu, head of Huawei’s Terminal Business.
The prices on the brand new model begin at 9,999 yuan (US$1,538) and will be available beginning May 6.
According to Huawei, the market for models that fold is a “gold track” due to their high-end position and immense potential.
The major companies, including Huawei, Oppo, Samsung, and Vivo, have launched folding phones. Apple is believed to launch foldable iPhones by 2024.
The sales of the foldable model will increase by 69 percent per year on average to reach 27.6 million units by 2025, as per International Data Corp (IDC).
In comparison, IDC revealed that Chinese smartphone sales tumbled by 14.1 percent in the first quarter of the year.
As compared to other companies, Huawei offers the advantages of a comprehensive ecosystem for smartphones that can connect and sync with other devices, including laptops, to a TV, and even the car.
As of now, more than 24 million devices are compatible with Huawei’s HarmonyOS system. The Huawei Terminal Business now has 730 million monthly active users across the globe.
This past Friday, Huawei reported its first-quarter revenues of 131 billion yuan, an increase of 14 percent from the previous year. Huawei’s private company didn’t release any additional financial information.
The pandemic and US tech sanctions have hit Huawei’s consumer business, including smartphones, following the time that the former US President Donald Trump put the firm on the denylist for exports in 2019. He also barred Huawei from accessing technology that is of US origin.
Huawei continues to spend large sums on the field of research and development. In 2021, the company filed for 6,952 patents, making as the world’s number. one for five years in a row, Yu said.