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.

The phone is a piece of engineering marvel: when unfolded, the device measures only 3.6mm thick, making it the new thinnest portable computing device in the world. This slimness is needed, because when completely folded up, it is essentially three stacked layers, which then does increase thickness to 12.8mm.

Many of Apple’s affluent iPhone users in China are just as interested in Huawei’s pricier trifold phone, CNBC found during spot checks at stores Friday, the day the iPhone 16 and Mate XT launched in the country.

Foldable phones have been very hit or miss over the past five years, and now Huawei is moving into uncharted territory. Begging the question of whether a tri-fold phone like the Huawei Mate XT is a trendsetter or a one-off.

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 phone - more than twice the price of the iPhone 16 Pro Max - was not available for walk-in customers.

However, analysts warn that supply chain constraints could leave many buyers of Huawei Technologies' Mate XT empty-handed. The launch of the Mate XT, which analysts say has a locally-made chipset, underscores Huawei's ability to navigate U.