Chinese tech firm Huawei has released a new slim smartphone in China called the Mate 70 Air in order to directly compete with Apple’s (AAPL) iPhone Air. The new Huawei phone is 6.6 mm thick and costs 4,199 yuan (around $590), making it much cheaper than Apple’s $999 iPhone Air. While it isn’t as thin as Apple’s version, Huawei is clearly competing by even using the same “Air” name Apple introduced with the iPhone 17 series this fall.
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Other Chinese phone brands are also stepping up to challenge Apple this year. For example, Xiaomi (XIACF) released its new Xiaomi 17 and 17 Pro models earlier than planned, while giving them names and features meant to match Apple’s, but for less money. Still, Apple’s latest iPhones are selling better in China this year than they did last year, which might be why more competitors are now launching new options.
Interestingly, it is worth noting that, rather than taking on Apple’s top-end iPhone, the Mate 70 Air is designed for people who care more about style and design, just like the iPhone Air’s target audience. And despite being thin, Huawei’s phone still includes a 7-inch screen, stereo speakers, and a big 6,500mAh battery. It also runs on Huawei’s own software and is now available for pre-order in China, with deliveries starting on November 11.
Is Apple a Buy or Sell Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 21 Buys, 12 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $287.14 per share implies 5.8% upside potential.
