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 (about $3,370) for 1TB. Chinese retailer Vmall reported 3.7 million preorders before pricing was announced.

The Mate XT features an inverse dual-hinge design that folds in a “Z” shape, allowing it to be used in a variety of formats. The OLED display measures 6.4-inches when fully collapsed as a traditional single-screen device. When fully unfolded, that display increases to 10.2-inches (2,232 x 3,184) and can still be used when partially unfurled in a smaller 7.9-inch configuration.

The device comes with a 5,600mAh battery and supports 66W of wired charging or 50W wirelessly. There’s a triple camera setup located on the rear that consists of a 50-megapixel main camera, a 12-megapixel ultrawide, and a 12-megapixel periscope camera. The hole-punch selfie camera on the front is 8 megapixels, and located on the left-most screen when the device is fully unfolded.

We’ve reached out to Huawei to ask about availability outside of China, but we’re not holding out hope.