The market competition of global tech industry is heating up, as Chinese giant Huawei Technologies Co recently unveiled its new smartphone vision with Mate X foldable 5G smartphone during the Mobile World Congress2019 (MWC19) held at the capital of Catalonia.

At the “5G is On” industry insights, Huawei demonstrated the 4K video-on-demand service on its new 5G foldable smartphone via a Vodafone Spain 5G live network powered by the firm. The demo showcased the extraordinary Gbit/s-level bandwidth that 5G networks will provide anywhere, anytime.

Widely considered as one of this year’s best attractions at MWC19, Mate X is likely to be available in mid-2019 with 2,299 euro price tag. At the event, Richard Yu, CEO of the company’s consumer unit, addressed the price issue head-on.

“There is so much new technology integrated here, to make it possible is very expensive. Our engineers are trying to bring the cost down,” he was quoted as saying on Mobile World Live.

According to the executive, the engineers have worked for three years on the patented hinge design. The approach Huawei has taken with the dual screens is to have 6.6-inch front and 6.4-inch rear screens which fold out to give an 8-inch display.

Yu said Mate X also offers a larger display when unfolded. To him, the 11mm thick folded device is 6mm thinner than “other foldable phones”, while the 5.4mm thickness when open is thinner than an iPad Pro.

Powered by Huawei’s Kirin 980 processor, the device has 8GB of RAM and 512GB of storage, with a 4,500mAh battery split into two cells, either side of the fold. Yu said this smartphone is also designed for the future 5G, though Huawei’s presence is much stronger than that of a smartphone manufacturer.

Yu trumpeted sales of 100 million units plus for devices such as tablets, PCs and wearables, as an indicator that Huawei has a “solid business” in computing and consumer IoT [internet of things] products.