07:16 AM EDT, 09/03/2024 (MT Newswires) -- Huawei Technologies said it is preparing to launch a new product to compete with Apple's ( AAPL ) iPhone 16, media reported on Tuesday, citing a Weibo posting by the company.

Huawei executive Richard Yu said the company will reveal an "epoch-making product" five years in the making on Sept. 10.

Apple ( AAPL ) is launching a new family of iPhones on Sept. 9.

Bloomberg cited an unnamed person familiar with the matter as saying that Huawei's new phone will fold twice.

Huawei did not immediately respond to MT Newswires' request for comment.

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