The company has lowered the price of its flagship Pura 70 Ultra model, which was introduced in April, to 8,999 yuan (approximately US$1,233) for the 1 terabyte variant, reflecting an 18 percent decrease from its initial price of 10,999 yuan, as indicated on Huawei's official online platform, Vmall. The 512 gigabyte version is now available at an even greater discount of 20 percent.
Additionally, the Mate X5, a foldable smartphone released in September 2023, is now priced 2,500 yuan lower than its original launch price of 12,999 yuan, representing a 19 percent reduction. This model has been recognized as China's best-selling foldable device since its debut, according to research firm CINNO.
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Earlier this year, Huawei implemented notable price reductions of up to 1,000 yuan for the Pura 70 series in July. These latest price cuts follow the November launch of the flagship Mate 70 series and the foldable Mate X6, as the company aims to capture a larger portion of a market largely dominated by Apple and various Chinese competitors.
According to consultancy Canalys, Huawei's domestic shipments of premium smartphones—those priced above US$600—rose by 34 percent in the September quarter. This growth has allowed Huawei to secure a 33 percent share of the domestic market, narrowing the gap with Apple, which maintains a leading 52 percent share.
The recent Mate 70 series is experiencing lackluster sales due to its less powerful processors in comparison to its rivals, as noted by analysts from TechInsights. Counterpoint Research anticipates that total shipments of the Mate 70 series will surpass 10 million units over its lifespan.
The industry has been keenly observing the release of the Mate 70 for indications of Huawei's advancements in chip technology. Last year, the company, which is on the US blacklist, made headlines by featuring a 7-nanometer chip in its Mate 60 series smartphones.
Analysts are also paying attention to the sales performance of Huawei's foldable devices, as the company continues to lead the foldable smartphone market in China, representing approximately half of the total domestic shipments, according to recent Counterpoint data.
In September, Huawei introduced the world's first trifold smartphone, the Mate XT. Together with the Mate X6, these devices are expected to reinforce the company's dominant position in the foldable segment, as per Counterpoint's analysis.
In the third quarter, Huawei shipped 1.12 million foldable smartphones, marking a 97 percent increase year on year, according to CINNO. The Mate X5 significantly contributed to this rise in shipments, the research firm reported.