It seems like only yesterday that Samsung announced the Galaxy Z Fold4, and already a serious competitor is on the way.

Chinese electronics manufacturer Xiaomi has unveiled its second foldable phone, the Mix Fold 2. The device appears to be packed with high-tech innovations, but retains the coveted foldable form factor that has made Samsung successful in the market.

The first thing you’ll notice is how thin this phone is, measuring 5.4mm when open and 11.2mm when closed. That leaves enough room for a USB-C port, but just barely. For comparison, Samsung’s latest offering is 15.8mm when closed, which was already considered on the thin side. Technology moves fast.

This ultra-thin form factor is thanks to the company’s third-generation “micro water drop hinge,” which allows for an extremely tight fold. It also makes this an extremely light smartphone, coming in at just nine ounces.