Transcript:
Related: Huawei answers Apple’s iPhone 16 with its first Trifold phone
Conway Gittens: When you hear about smartphones, there are two names that dominate international conversations – Apple and Samsung – but China’s Huawei wants to chat again.
Chinese equipment manufacturers are using their three-fold phones, called Mate XT, Global. The phone’s screen has three folds and started selling in China in 2024, and now it’s launched internationally for $3,600. Global launches are intended to restore brands damaged by U.S. sanctions. Huawei once challenged Apple and Samsung at the top of the smartphone food chain, and then these sanctions made it into the role. According to IDC, Huawei’s global market share is now only 0.3%.
The novelty of mobile phones may be the key to Huawei’s global revival strategy. The high price may make the partner XT a state symbol of the quiet luxury era. More importantly, however, Huawei wants to restore its brand name to areas outside China, where it has a market share of 17%.
However, there may be a stumbling block. MATE XT is definitely not an Apple product, so users cannot access the App Store. It also does not use the Google Android operating system, so users cannot access Google Play’s apps either. Mate XT users will have to rely on Huawei’s App Store, which does not have access to most of the most popular apps Americans use.
Turn to the market at the start of the week of a shortened vacation. The S&P 500 is far from the stone that sets a fresh record. Investors are opening their voices to any tariff news in Washington. Meanwhile, Intel shares are higher after reporting that the company may break down the company and there are potential buyers interested in these products.
This will do for your daily briefing. From New York City, I am Conway Gittens from TheStreet.
Watch ICYMI this week:
- Senior economists say tariffs may not lead to higher prices.
- DeepSeek sell-off is more about NVIDIA stock than AI
- Tim Cook surprises Apple fans with its February product launch
- Experts provide amazing views on Trump’s crypto push
