After weeks of teasing, Huawei has officially launched the world’s first dual-hinged, triple-screen foldable phone and it’s just as expensive as we feared. In China, prices for the Mate XT Ultimate Design start at 19,999 yuan (about $2,809) for the 256GB storage model — that’s roughly $300 more than a brand-new 16-inch MacBook Pro.

All models are equipped with 16GB of RAM, and two additional storage variants are available that cost 21,999 yuan (about $3,089) for 512GB and 23,999 yuan…