Ahead of the highly anticipated launch, Huawei Technologies‘ new $2,800 tri-fold smartphone, the Mate XT, has hit the market, but many eager buyers were left disappointed due to limited availability.

What Happened: Huawei and Apple Inc. AAPL launched their latest smartphones in China on Friday. However, many Huawei fans were disappointed as the $2,800 Mate XT was only available for pre-order customers, Reuters reported.

At Huawei’s flagship store in Shenzhen, “super fans” expressed frustration after learning that only confirmed pre-orders could purchase the new tri-foldable Mate XT. A university student surnamed Ye, who had been waiting since 10 p.m. the previous night, said, “They should have made it clear we can’t buy.”

Similar scenes unfolded at Huawei’s Wangfujing store in Beijing, where access to the Mate XT was also limited to pre-order customers. Reuters reported around 30 people queuing outside the Beijing store and a similar number in Shenzhen early on Friday.

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Analysts had previously warned that supply chain constraints might leave many potential buyers empty-handed. Huawei executive director Richard Yu stated that sales were “better than expected” and the company was working to expand capacity. However, the exact number of phones produced or delivered on launch day remains undisclosed.

Pre-orders for the Mate XT have exceeded 6.5 million, nearly double the foldable smartphones shipped worldwide in the second quarter of this year, according to IDC. Despite the high demand, production constraints are causing significant delays.

See Also: Samsung To Reportedly Slash Global Workforce By Up To 30% In Certain Divisions Amid Intense Competition Competition From Apple, Huawei

Why It Matters: Huawei’s latest tri-fold smartphone, the Mate XT, has been generating significant buzz even before its official release. On Tuesday, it was reported that the Mate XT was being listed for over $7,000 on online marketplaces, more than double its list price, highlighting the high demand and limited availability.

The launch of the Mate XT comes amid Huawei’s ongoing efforts to challenge Apple’s dominance in the Chinese smartphone market. The Mate XT, priced at $2,800, is significantly more expensive than Apple’s iPhone 16 Pro Max, which starts at $1,199 for 256 GB storage.

Huawei’s strategic timing for the Mate XT’s launch also plays a crucial role. Huawei scheduled its product launch event on the same day as Apple’s iPhone 16 reveal, aiming to capture consumer attention and market share.

Furthermore, Huawei’s focus on using more components from Chinese suppliers, as seen in its Pura 70 series, reflects its commitment to tech self-sufficiency. A teardown analysis revealed that the Pura 70 series incorporated more homemade parts, showcasing Huawei’s resilience amid U.S. sanctions.

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next:

Photo courtesy: Huawei

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote