Huawei is preparing to release its new ‘trifold’ smartphone on Friday — the same day as Apple’s (AAPL) latest iPhone comes out — but it’s already being listed in China for up to three times its price.

The world's first tri-fold smartphone, the Huawei Mate XT, is reaching unreal prices over at some online marketplaces.

Strong demand for Huawei Technologies' attention-grabbing Mate XT tri-fold smartphone, which is in tight supply, has prompted consumer electronics vendors in Shenzhen's Huaqiangbei to triple the handset's selling price ahead of its official release this Friday.

Huawei and Apple's latest smartphones went on sale in China on Friday, with many fans of the Chinese company disappointed that its much-anticipated $2,800 model - more than twice the price of the iPhone 16 Pro Max - was not available for walk-in customers.

Huawei and Apple are facing off in China, as the Mate XT and iPhone 16 hit shelves on the same day, drawing consumers and scalpers alike amid intense competition.

Huawei and Apple’s latest smartphones go on sale in China on Friday, with the Chinese tech company’s much-anticipated $2,800 tri-foldable phone offered at more than twice the price of the iPhone 16 Pro Max.

First up, by ‘tri-foldable’ I naturally mean a phone that folds at two points. Unintuitive, perhaps, but it’s the three screen sections that really make the name make sense. The Mate XT can be used at a roughly regular phone size,