Huawei's "Triple Fold" Mate XT stocks 1 million units, with the exposure of four core suppliers for the modules

According to the Zhitong Finance and Economics App, on September 10th, Huawei released the world's first tri-fold phone, Mate XT. Priced at 19,999 yuan, it is 6,000 yuan more expensive than Apple's most expensive 16 Pro Max (1TB version priced at 13,999 yuan), which happens to be the price of a basic iPhone 16. Although the price is high, the pre-order for Huawei Mate XT started on September 7th, and by the afternoon of September 11th, the number of pre-orders had reached an astonishing 5.05 million people, far exceeding market expectations. The popularity of Huawei Mate XT has also significantly boosted the attention on the industry chain. The core suppliers of its four major modules - screen, hinge, structural components, and battery, as the main "innovators," have cooperatively achieved core capabilities such as ultra-thin, tri-fold, high reliability, and long battery life, attracting widespread attention from the industry and capital markets. However, the camera module supplier, which has always been highly regarded in conventional flagship models, seems to have been somewhat neglected this time. According to media and industry chain sources, Huawei is deepening cooperation with domestic upstream and downstream companies in the industry chain to build a localized supply chain. Regarding the hinge, Huawei Mate XT is the first to achieve both internal and external folding with the hinge system, which Huawei calls the "Tiangong Hinge System." Through precise mechanical structure adjustments and repeated debugging of micron-level digital twin models, the perfect match between the hinge and the screen has been achieved. According to the supply chain information, the overall value of the tri-fold screen hinge is around 1,000 yuan. Assembly is still done by Wistron and Foxconn in Taiwan, with MIM accounting for over 50% of the hinge's cost in components, mainly supplied by East Hope Group, while Dafu Technology provides the rotary shaft part, with a smaller value. ![6b40742f5063ea69af96fd0b5646538.jpg](https://img.zhitongcaijing.com/image/20240912/1726109170985911.jpg? In terms of structural components, the Huawei Mate XT uses a newly developed metal frame to address the public's concerns about "being too bulky for three folds" in the past. When fully unfolded, the thickness is only 3.6mm, almost the same as the Type C charging port, with a weight of 298g. Due to its ultra-thin, extra-large body and the need to withstand frequent folding scenarios, the structural components require extremely high architectural and material performance to ensure the overall reliability. According to the supply chain information, the supplier of the Huawei Mate XT's structural frame is AAC Technologies (H shares). Based on the current unit price of high-end flagship phone structural frames, the price of the Huawei Mate XT's structural frame should be more than 3 times higher, around 700 to 1000 yuan. In terms of the screen, the Huawei Mate XT features an extraordinary master's flexible OLED display module, using non-Newtonian fluid and a 322cm² ultra-thin glass (UTG) to form a composite super-tough structure, doubling the impact resistance performance by 75%. According to the supply chain information, the main screen suppliers are BOE, Visionox, and SDC. The value of the UTG glass is around 200 yuan, supplied by Corning. In the battery aspect, the Huawei Mate XT has three batteries with a total capacity of 5600mAh, providing long-lasting endurance. Each battery is only 1.9mm thick, as thin as a cicada's wings, greatly saving the stacking space of the device. Huawei refers to it as the "world's thinnest silicon negative electrode high-capacity battery". According to the supply chain information, the battery supplier is Amperex Technology Limited (ATL). As of the afternoon of September 11th, the number of pre-orders for the Huawei Mate XT has exceeded 5 million, and it is still rapidly growing, far exceeding market expectations. In terms of stocking, a supply chain source mentioned that the initial stocking of the Huawei Mate XT is around 400,000 to 600,000 units, "based on the plans we have received, the total stocking quantity is around 1 million units."