The trifold smartphone from Chinese manufacturer Huawei will retail for over $2,800, the firm said on Tuesday.

Pre-orders for the phone went live on Saturday, and on September 20, in-store sales are scheduled to start. Apple's new iPhone 16 series is scheduled to go on sale in retailers, including in China, on that same day.

Apple said on Monday that the iPhone 16 would retail for $799 and the iPhone 16 Pro Max for $1,199 in the United States. Preorders will open on Friday, and in-store sales will start on September 20.

The business said that a free software update would be available next month that will include the initial set of Apple Intelligence AI functions. Users of the iPhone 16 and the iPhone 15 Pro and Pro Max are able to utilise the new features.

The Mate XT is available in three storage capacities and two colours, red and black, for 19,999 yuan ($2,809) to 23,999 yuan ($3,371). When the smartphone is unfurled, its 10.2-inch screen is 3.6 millimetres in thickness.

The Huawei Mate XT smartphone has received preorders from over 3.5 million users, according to the CNBC article.

Apple also revealed the A18 chip, which is a new processor designed for their very sophisticated 3-nanometer phones. The iPhone 16 is substantially quicker than the iPhone 12 thanks to the processor, according to the firm.

Following the imposition of sanctions by the United States on the corporation in 2019, Huawei attempted to recover its position in the smartphone market. In October 2022, the United States placed more extensive limitations on its exports of cutting-edge semiconductors to companies in China.

However, the massive Chinese telecom company unveiled its Mate 60 Pro covertly in late August 2023. TechInsights' examination revealed that the Mate 60 Pro's processor was produced by SMIC, a Chinese chipmaker, using a 7-nanometer technology.

(Sources: cnbc.com)