Huawei Seeks Snob Appeal with Porsche Smartphones

(Beijing) — After challenging global leader Apple for market share, China's rising Huawei is taking a swipe at the iPhone maker where it really matters: in the competition for snob appeal.

At an event this week to showcase new models from its Mate series, Huawei Technologies Co. Ltd. raised eyebrows by unveiling a limited-edition model with the eye-popping price of 8,999 yuan, or more than $1,300. The Huawei Porsche Design Mate 9 is even more expensive in Europe, where consumers must fork over 1,395 euros, equivalent to about $1,500.