Huawei and Xiaomi launch foldable phones ahead of Apple's September event

In early September 2026, Chinese tech giants Huawei and Xiaomi unveiled new foldable smartphones, just days before Apple's scheduled September 9 event. Huawei introduced the Mate XT2, a foldable tablet-phone hybrid priced at around $3,000, while Xiaomi also presented its latest foldable model. The launches are seen as a direct challenge to Apple, which is expected to announce its own foldable iPhone, reportedly facing production issues and a potential price tag exceeding $2,000 to $3,000.

Apple's stock has risen 18% ahead of the event, reflecting investor optimism. John Ternus, who is set to lead the presentation, faces the challenge of selling a premium-priced foldable device. The competition highlights the growing race in the foldable smartphone market, with Huawei and Xiaomi moving first to capture consumer attention.