Huawei’s tri-fold phone gets 2.7 million pre-orders before iPhone 16 launch

Published

4 months ago

September 9, 2024

Huawei is planning to release a three-fold smartphone on Sept. 10, just hours after Apple’s scheduled new iPhone launch.

Cfoto | Future Publishing | Getty Images

BEIJING — Huawei has received more than 2.7 million pre-orders for its tri-fold smartphone, its website showed on Monday.

The Chinese company began pre-orders for its Mate XT midday on Saturday. That was more than two days ahead of Apple’s planned iPhone 16 launch early morning Tuesday Beijing time.

Huawei had previously announced it would launch a new product at 2:30 p.m. on Tuesday. The company has yet to share a price for the Mate XT. The device is set to officially being sales on Sept. 20.

Apple fell out of the list of top five smartphone vendors in China in the second quarter, according to Canalys. It was the first time that domestic players held all five spots, the firm said.

Huawei ranked fourth by market share with 10.6 million smartphones shipped, according to Canalys.

The firm only shared shipments for the top five vendors. Apple shipped 10 million phones in the first quarter.

Huawei already sells folding and flip phones, as do its Chinese competitors. Apple has yet to expand into those categories.

RGTI, KULR, MSTR and more

Published

19 hours ago

December 27, 2024

Business Finance News

Stocks making the biggest moves midday: RCAT, RGTI, HMC

Published

19 hours ago

December 27, 2024

Business Finance News

10-year Treasury yield back above 4.6% after mixed jobless claims data

Published

1 day ago

December 27, 2024

Business Finance News

Treasury yields were slightly higher early Friday after a mixed set of data on weekly jobless claims.

The yield on the benchmark 10-year Treasury was 3 basis points higher at 4.607%, slightly down from its peak earlier in the week but back above the 4.6% level it had not breached since May. The 2-year Treasury was fractionally higher at 4.334%.

One basis point is equal to 0.01%. Yields move inversely to prices.

After the Christmas break, jobless claims data released Thursday for the week ending Dec. 21 came in 1,000 lower at 219,000, below the 225,000 consensus forecast from Dow Jones.

However, continuing claims rose by 46,000 for the week ending Dec. 14 to the highest level since November 2021.

The 10-year Treasury yield has risen more than 40 basis points in December as traders anticipate a more hawkish Federal Reserve in 2025. The central bank next meets at the end of January, when a rate hold is expected.

Monthly data on wholesale inventories is due Friday.