A leak of Xiaomi's patent for the design of a tri-fold smartphone has sparked speculation that Xiaomi intends to enter the triple-folding phone market, following the launch of the Huawei Mate XT.

Both Xiaomi and Honor have previously applied for a design patent on a double-hinged handset, according to public records.

A recent report shows that Xiaomi's new application with the China National Intellectual Property Administration (CNIPA) has unveiled the design of what could be its upcoming tri-fold smartphone.

Huawei's new trifold smartphone, the Mate XT, is set to hit stores on Friday. Online scalpers are already looking to make a quick buck on it.

Xiaomi on Wednesday promoted a new triple-fold smartphone patent, following Huawei’s launch of the Mate XT, the industry’s first triple-fold smartphone,