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Richard Yu, the Chief Executive Officer of Huawei Consumer Business Group, announced that the company will unveil the highly anticipated first trifold smartphone in September.

Huawei remains stingy about the specifics of the trifold device, although Yu was repeatedly spotted using it in the wild. In a surprising move this week, the executive told the media that the brand would finally unveil the creation “next month.” The former Huawei CEO confirmed the matter when asked about the matter during the Stelato S9 delivery event.

This validates earlier rumors shared by the reliable tipster Digital Chat Station, who said that the phone will be part of the Huawei Mate series.

According to recent reports, the phone could be priced at CN¥29,000 or around $4000, making it an incredibly expensive device. A tipster noted that this is the “expected” retail price of the model that the company set but added that the current prototype of the Huawei trifold smartphone costs CN¥35,000, which is much higher than the company’s price tag goal. While this could mean that the retail price of the foldable could be much higher than the company wants, Huawei is said to be “continuously working on reducing costs.”

Via