Huawei delivers newly launched Mate XT, world's first tri-fold phone, at Shanghai flagship store

Chinese tech giant Huawei delivered its newly launched Mate XT, the world's first tri-fold phone, at a flagship store in Shanghai on Friday.

Huawei's Executive Director, Yu Chengdong, personally delivered the first batch of phones to users and unboxed the Mate XT during a live stream on China Central Television (CCTV).

Since its launch on September 10, Mate XT has received more than six million preorders online. Yu said Huawei is working overtime to expand production capacity to meet the high demands.

"The immense consumer support following the launch is our greatest encouragement. Many of the components in this phone use domestic technologies, chips, and production process. Since the sanctions were imposed, we have mastered key technologies independently as some of the components are no longer available," said Yu.

The Mate XT features a 10.2-inch (25.908 cm) screen and is just 3.6 millimeters thick when unfolded, making it the largest and thinnest folding screen phone on the market. To achieve this sleek design, the Mate XT incorporates a high-capacity battery constructed with the thinnest silicon anode material available globally, with each cell measuring an impressive 1.9 millimeters in thickness.

Mate XT offers a versatile design with single, dual, and triple-screen modes, allowing for flexible transitions between different forms. Yu noted that Huawei has dedicated five years to pioneering its innovative hinge mechanism, revolutionizing traditional designs by enabling inward and outward folding.

Mate XT is sold at a starting price of 19,999 yuan (about 2,800 U.S. dollars).

Huawei delivers newly launched Mate XT, world's first tri-fold phone, at Shanghai flagship store

Huawei delivers newly launched Mate XT, world's first tri-fold phone, at Shanghai flagship store

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points