Huawei and Xiaomi Launch Foldable Phones to Rival Apple's Expected iPhone Ultra

Key Facts

1Huawei unveiled the Mate XT 2 trifold smartphone with a starting price of $2,980.

2Xiaomi is set to launch a rival foldable phone later today.

3Apple is expected to debut its foldable iPhone Ultra on Wednesday with a price potentially exceeding $2,500.

In a move reflecting the intensifying rivalry within the premium smartphone segment, major Chinese tech firms have launched new foldable models to preempt Apple's imminent entry into the category. Huawei unveiled its Mate XT 2 trifold smartphone with a starting price of $2,980, while Xiaomi is set to launch a rival foldable device later today. These strategic moves come ahead of the anticipated debut of Apple's foldable iPhone Ultra this Wednesday, which reports suggest could be priced above $2,500.

This surge in competition arrives as the smartphone industry grapples with broader headwinds, including a forecasted 14% drop in global shipments and rising memory costs. According to market data, Apple (AAPL) shares closed at $319.97 on September 4, 2026, while Xiaomi (XIACF) stood at $3.55 as of its September 3, 2026 close. Analysts are closely watching whether Chinese manufacturers can defend their market share against Apple's established dominance in the high-margin premium device sector.

Investors should monitor AAPL price action following its recent daily high of $328.93, with Wednesday's product event serving as the primary catalyst. Additionally, upcoming global economic data, such as manufacturing PMI releases across Europe, may influence broader tech sector sentiment. The market's reception of these ultra-premium price points, reaching nearly $3,000, will be a critical indicator for the long-term viability of the foldable hardware cycle.