One of Apple's largest rivals in China, Xiaomi, just announced the Mi MIX 2S phone, its answer to the iPhone X. It will cost 3,299 yuan ($527) in China, less than half the cost of the iPhone X (8,388 yuan, or $1,335.)
According to an IDC report published last month, Xiaomi is the world's fourth-largest seller of phones by volume, trailing Apple, Samsung and Huawei.
The Android-powered Mi MIX 2S follows Xiaomi's original Mi MIX 2 and is equipped with most of the latest hardware including Qualcomm's new Snapdragon 845 processor, the same one that's in Samsung's Galaxy S9 and Galaxy S9+.
Like the iPhone X, it has a display that covers almost the entire front of the phone. While it supports wireless networks around the world, it's unlikely we'll see the Mi MIX 2 in the United States anytime soon.
U.S. intelligence agencies have cautioned carriers and consumers against selling devices from other Chinese brands, such as Huawei and ZTE, over concerns the brands may use devices to spy on U.S. consumers. It's also traditionally hard for outsiders that haven't sold phones in the U.S. before, such as Xiaomi, to establish relationships and sell phones on AT&T, Verizon, Sprint and T-Mobile.
Xiaomi said earlier this year that it plans to sell phones in the U.S. market at some point, however, which means the phone may eventually make its way here, and could be sold directly from Xiaomi's website. It currently only sells accessories, such as battery packs, in the U.S.