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Related: Huawei answers Apple's iPhone 16 with the first trifold phone
CONWAY GITTENS: When you hear about smartphones, there are two names dominating the international conversation - Apple and Samsung- but China’s Huawei wants to get back into the chatter.
The Chinese device maker is taking its tri-fold phone, called The Mate XT, global. The phone, which has a screen that folds in three, started selling in China in 2024, and now it's launching internationally with a $3,600 price tag. The global launch is an effort to revive a brand tarnished by U.S. sanctions. Huawei was once on its way to challenging Apple and Samsung at the top-end of the smartphone food chain before those sanctions made it persona non grata. Huawei’s global market share now stands at just 0.3 percent, according to IDC.
The novelty of the phone may be the key to Huawei’s global revival strategy. The high price tag could make the Mate XT a status symbol in the age of quiet luxury. More importantly, however, Huawei wants to get its brand-name back out there outside of China, where it has a 17 percent market share.
There could be one stumbling block, though. The Mate XT is definitely not an Apple product, so users won’t have access to the App Store. It is also not using the Google Android operating system, so users won’t have access to apps from Google Play either. Mate XT users will have to rely on Huawei’s app store, which doesn’t have access to a majority of the most popular apps used by Americans.
Turning to markets at the start of a holiday-shortened week. The S&P 500 is a stone’s throw away from setting a fresh record high. Investors are keeping their ears open for any more tariff news out of Washington. Meanwhile, shares of Intel are higher after reports the company could be broken up and there’s potential buyers interested in the pieces.
That’ll do it for your Daily Briefing. From New York City, I’m Conway Gittens with TheStreet.
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