(Bloomberg) -- Huawei Technologies Co. announced the world’s first commercial device with two folds, claiming leadership in mobile design just after Apple Inc. unveiled its latest iPhones.

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The so-called trifold phone from Huawei, dubbed the Mate XT and starting at 19,999 yuan ($2,800), took over five years of development and promises to fit a 10-inch tablet in a pocket. Introduced in a livestreamed event from Shenzhen, the new device is jostling for attention at the top of the premium market in China, where Huawei has reclaimed share from Apple over the past year.

Riding a yearlong high after the debut of a breakthrough, made-in-China mobile processor last August, Huawei returns with a first-of-its-kind innovation. But questions abound as to how much of an impact the pricey new phone will have on the overall market. And, at a time that every other phone vendor is pushing artificial intelligence features and additions, Huawei’s focus on hardware engineering stands out.

“It’ll be hard for trifold products to become a major growth engine for the foldable market given the high technical requirements, low yields, high prices and limited participants,” IDC analyst Arthur Guo said ahead of Huawei’s event. Other phone makers are starting to decelerate investment in foldables, waiting for Apple to enter the fray and use its “strong appeal” to attract consumers to the category, he added.

For Huawei, the prize may be bigger than just sales. Huawei has become a de facto symbol of national pride, after developing homemade chips that US trade sanctions were meant to prevent, and that patriotism has shown up in some of its bumper sales over the past year.

The Mate XT measures just 3.6mm in thickness when open — camera bump excluded — and was designed to allow three modes of operation. One is like a regular smartphone, another is an almost square foldable device, and the third is the full 10.2-inch tablet experience. The device runs Huawei’s in-house Harmony OS.

The company’s decision to set its trifold debut mere hours after Apple’s worldwide introduction of the iPhone 16 signals the company wants to own the innovation crown — at home in China, at least — and not allow Apple its usual honeymoon period after a new launch.

Huawei and Apple are likely to once again dominate the Chinese premium smartphone tier this holiday shopping season, with the Shenzhen company expected to introduce a new Mate series of flagship handsets later in the year.

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