This could be the new flip phone that Samsung fears the most

Samsung has largely had its own way when it come to the best foldable phones over the years. But with many more manufacturers joining the fray of late, plus standards being risen, it'll have to go some to stay at the top of the hill.

Take the Honor Magic V Flip, for example, which has just launched in China. Not only is it packed with some great tech, it looks stunning – especially the external 4-inch display that covers the entire front. It has a 1200 x 1092 pixel resolution and certainly makes the new phone stand out.

The Samsung Galaxy Z Flip 6 certainly seems to have a fight on its hands.

Honor also highlights the slim casing on the Magic V Flip as another differentiator. The phone is claimed to be 7.15mm when unfolded, 14.89mm when closed. It weighs just 193g.

The internal LTPO OLED display is 6.8-inches and has a resolution of 2520 x 1080, with a 120Hz refresh rate and HDR support.

The camera on the rear uses a 50-megapixel Sony IMX906 sensor backed up by a 12-megapixel ultrawide lens that can double for macro photography. There's a 50-megapixel front-facing camera inside too, for selfies and portait mode.

The handset runs on Qualcomm Snapdragon 8+ Gen 1 processing, which isn't the most current, to be honest, but it does sport 16GB of RAM to keep things moving along nicely. There's up to 1TB of storage on-board.

A more affordable 12GB / 256GB model is also available. The battery on both is 4,800mAh with 66W fast charging.

Perhaps the most surprising thing about the Honor Magic V Flip – and the thing that'll perhaps worry Samsung the most – is its price.

Pricing starts at CNY 4,999 – around £540 / $688 at today's exchange rate. That's staggeringly low for a flip phone from a major manufacturer. Even the top-end, high-storage version is just CNY 5,999 – £650 / $826.

Should you wish to splash out more, there's a limited edition version created in collaboration with fashion designed Jimmy Choo. We're not sure how much that'll set you back though, as yet.

There's one remaining issue. As of now, Honor hasn't said when or even if I plans to release the Magic V Flip outside of China. So, that's something the Galaxy Z Flip 6 and its predecessor, the Samsung Galaxy Z Flip 5, have in the locker – they are or will be available in the UK and elsewhere.