Foldables are expense. And so are 5G phones. But foldable 5G phones? Well, um, get ready for that second mortgage. At the end of Huawei’s MWC press conference, mobile chief Richard Yu dropped a pricing bombshell, noting that the recently announced Mate X will run €2,299 ($2,600).

There’s a pricing premium and then there’s that.

The audience at the event audibly gasped as the price was revealed for the handset, which is set to launch in mid-2019. Yu clearly anticipated the reaction, noting that the company was working with carriers to help bring the price down. The executive took an almost apologetic tone for the price of innovation.

Mass production should help lower the cost as well, but if there was any doubt that this thing is aimed exclusively at early adopters, that should well be put to rest.

Like the Galaxy Fold, the Mate X will feature some beefy specs, including 8GB of RAM, 512GB of storage and a pair of batteries that add up to 4,500mAh. And, well, for $2,600, this thing had better be top of the line.

There’s also the whole problem of Huawei not being able to sell its devices through major channels here in the States. Certainly carriers won’t help subsidize the product in this market, so if that price isn’t enough to make you reconsider, it still may be difficult to come by.