Huawei, Xiaomi Unveil High-End Foldables as Component Costs Surge
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Chinese smartphone giants Huawei Technologies Co. Ltd. and Xiaomi Corp. unveiled their latest high-end foldable devices at significantly higher prices on Monday, passing soaring component costs onto consumers.
Huawei introduced the Mate XT 2 tri-fold smartphone, starting at 19,999 yuan ($2,980), 2,000 yuan above its predecessor, while Xiaomi launched the 18 Fold, starting at 10,999 yuan. Both Huawei consumer business group chairman Yu Chengdong and Xiaomi CEO Lei Jun cited rising storage costs as the primary driver behind the price pressure during their respective launch events.
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