The Huawei Mate XT, a tri-fold smartphone, has generated immense buzz ahead of its official release, with over 6.3 million reservations recorded. Initially priced at 19,999 yuan ($2,800), scalpers are now listing the phone for as much as 70,000 yuan ($9,900) due to high demand and limited availability. This price surge, which reflects a 200-300% increase, highlights the competitive landscape in China's smartphone market, especially against the backdrop of Apple's iPhone 16 launch. Analysts note that while Huawei is gaining traction, it still trails behind Apple in chip technology. The Mate XT's unique design and features, including AI and satellite communications, are drawing consumer interest, although the inflated prices have raised eyebrows. The situation illustrates the challenges consumers face in acquiring new technology amid intense market speculation and scalping activities.