[Source: Reuters]

Chinese tech giant Huawei (HWT.UL) has garnered more than 3 million pre-orders for its triple-folding smartphone.

Its website showed, which comes just hours before Apple’s (AAPL.O), opens new tab debut of its new generation of iPhones.

Huawei’s Mate XT, a Z-shaped tri-fold phone is scheduled to be unveiled at a launch event on Tuesday, as announced on its social media account WeChat.

Pre-ordering customers will receive details on how to purchase the phone on Tuesday, the day of the launch event, rather than making a down payment.

This robust pre-order figure underscores Huawei’s ability to navigate U.S. sanctions and solidifies its position as a key competitor to Apple, which has cut prices earlier this year to sustain its market share.

The Huawei launch event will take place shortly after Apple’s Sept. 9 event, where the company is set to introduce its iPhone 16 lineup, emphasising the integration of artificial intelligence features in its flagship devices.

Huawei was the biggest foldable phone seller in China in the second quarter, with a 42% domestic market share, according to consultancy IDC.