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Huawei reveals the size of its losses from the launch of Mate XS

Huawei reveals the size of its losses from the launch of Mate XS

Huawei announced the first foldable smartphone (Mate X) at the MWC 2019 World Conference on Developers, then followed by the second phone (Mate XS) in the month of February.

Although the phone manufacturers are launching phones to profit from them, the Chinese company today revealed its losses from the launch of the two phones. The CEO of the company, Richard Yu, said during a special event held in China: It lost between 60 and 70 million US dollars from the “MTX” phone, which was launched at a high price of 2,408 USD.

It is believed that the announcement of these losses is surprising given previous reports that spoke about a high demand for the phone, but it seems that the company is ready to bear these losses to encourage people to adopt the new form of smart phones.

“After reducing the cost of the foldable screen, it is possible to make a profit, not just the selling price,” the CEO of ITHome and MyDrivers quoted the CEO as saying.

It is noteworthy that the CEO of the Chinese company had previously stated that it will take approximately two years for folding phones to be available at the same price for traditional smartphones.

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