Huawei launches new foldable smartphone as competition with Xiaomi, Apple heats up

Huawei launched a new version of its flagship foldable smartphone on Monday as it seeks to defend its lead in the Chinese market for premium handsets against Apple and Xiaomi, both of which are also unveiling new products.

The new Mate XT2 folds out twice to open into a tablet-sized screen and features Huawei’s new Kirin 9050 Pro chip. Huawei says the chip’s design allows it to deliver more computing power while using less electricity, helping the company…