Mr Yu said foldable phones will be the future of the smartphone industry, and that the Chinese firm believes it can be the number one company in the industry "within two years - maybe even next year".
Oppo is working on its own version of a foldable phone which seems to take a couple of lessons from the Huawei Mate X, the latest foldable phone on the block. This means that when the phone is folded, you can use the main camera setup for selfies.
When unfolded, the 6.6-inch dual display panel transforms into an 8-inch tablet only 5.4mm thick.More news: Musician R Kelly pleads not guilty in court
This half comprises a 6.4-inch screen in folded mode. Huawei was quick to compare the Mate X to the Galaxy Fold, pointing out that the Mate X is both thinner and features a larger display. Using its charger, Huawei says the Mate X can charge to 80 percent in approximately 30 minutes. Samsung stated it expects to launch the Galaxy Fold on April 26.
To catch the presentation, hit that play button below - it should jump to 1:21 and the start of the Mate X portion.
Oh, and the Mate X will cost an eye-watering €2299 (around $2,602 based on currency conversions) for an 8GB RAM/512GB storage variant.
"Foldable phones are now in mass production, and vendors have set realistic expectations for their sales performance", stated Canalys senior director Nicole Peng.
You can still see a slight crease, but Huawei's Mate X might just be the best foldable phone we've seen yet.More news: Levante vs. Real Madrid live stream
As for cost, we're looking at the Huawei Mate X starting at $2600 which is pretty insane, with availability in mid-summer.
Huawei made no mention of how durable the phone is (though it did show off a special case for it) or how well third-party Android apps work on the various display modes. And thanks to Huawei's alternative layout, the Mate X gains some notable advantages over Samsung's take.
Despite the repeated anti-Huawei campaign by the U.S government, the company has continued to prove that its growth is hinged on innovation.
Foldable smartphones have always been a concept inked to come true since 2016.More news: 91st Academy Awards: What Time Do The 2019 Oscars Start?