Huawei’s tri-fold price skyrockets to $10,000+ amid limited supply
By
Rajesh
-Sep 19, 2024
Huawei’s new tri-fold, the
Mate XT Ultimate, has caused quite a stir both in China and globally. Although it’s currently only available in its home market, getting one there is proving to be extremely difficult.
Since its launch earlier this month, demand for the foldable has skyrocketed, with reports now suggesting that scalpers in China are marking up prices by a huge 200-300%.
Huawei officially priced the 256GB Mate XT at 19,999 yuan (about $2,800), but folks in Shenzhen’s Huaqiangbei, the world’s biggest electronics bazaar, are listing the phone for a whopping 60,000 to 70,000 yuan ($8,400-$9,800).
Huawei Mate XT
Lin Shen, a second-hand smartphone dealer in the district, said to the
South China Morning Post (SCMP), that the “prices at still unstable,” with most interest coming from scalpers looking to capitalize on the limited supply.
Another Huaqiangbei dealer cautiously admitted that his final resale price will depend on whether he can secure a unit on launch day. Online marketplaces are also witnessing similar price gouging.
On Xianyu, Alibaba’s online flea market, prices for the Mate XT are fluctuating wildly, ranging from 30,000 yuan to a mind-boggling 100,000 yuan ($4,200 -$14,000), with many sellers promising same-day delivery.
This skyrocketing price tag comes as no surprise. Huawei’s Mate XT, touted as the world’s first commercially available tri-fold phone, has already racked up over 6.3 million reservations on their Vmall platform. However, these pre-orders don’t guarantee immediate purchase, leaving many scrambling for alternatives.
The inflated prices on the grey market suggest Huawei may have successfully stolen Apple’s thunder in China. While Huawei’s foldable sees prices soar, retailers across China have reportedly already slashed prices on the new iPhone 16 series ahead of its official release this Friday.
According to
SCMP, the Chinese e-commerce platform Pinduoduo is selling the 512GB iPhone 16 Plus for 8,999 yuan, a 10% discount from its official price of 9,999 yuan. The 128GB iPhone 16 is available at an even steeper 11% discount.
The Huawei Mate XT, a tri-fold smartphone, has seen its sale price skyrocket in China by scalpers due to limited supply and strong demand.
www.gizmochina.com