Honor is preparing to launch the first foldable Magic V on Monday, January 10. The price of the phone was spotted in a rehearsal launch. The 12/256 GB model will have a price tag of CNY 13,999 which is nearly $2,200, and there will also be a 12/512 GB variant with a price of CNY 14,999 ($2,350).

The Magic V will also be Honor’s first phone with Snapdragon 8 Gen 1 chipset, Qualcomm’s latest flagship platform. Reports suggest it will have a 50MP main camera, Android 12 out of the box and up to 66W fast charging.

If these prices are real, then Honor Magic V would be cheaper than the Samsung Galaxy Z Fold3 and Huawei Mate X2, but a lot more expensive than the Oppo Find N and Xiaomi Mix Fold – all of these are direct competitors of each other in China.

There is no detail regarding the global announcement of the smartphone. If it does, it might finally challenge the Samsung Galaxy Z Fold lineup.