Chinese tech giant Huawei unveiled here on Monday the latest version of its foldable smartphone, Mate Xs, during a streamed virtual product launch event.

The Mate Xs is an updated version of Huawei's Mate X which was unveiled last year. It is of the same size as its predecessor but has a higher quality display screen and Huawei's new Kirin 990 processor with 5G connectivity.

The foldable phone will use Huawei's EMUI 10, which is based on the open source version of Android and its own mobile services as a replacement for Google's.

It will be priced at 2,499 euros (2,710 U.S. dollars) for its premium model and on sale worldwide in March, according to Huawei.

The Chinese tech giant also launched its Sound X speaker developed in partnership with French audio specialist Devialet.