Chinese consumer electronics firm Honor launched its flagship foldable smartphone overseas — venturing into a high-end market dominated by Samsung and Apple.

The Honor Magic V2 will go on sale in markets in Europe and elsewhere — but not in the United States — no later than the first quarter of 2024, the company said.

Honor was sold to a consortium of investors to spin it off from Huawei after the latter was slapped with a number of U.S. sanctions that cut it off from key technology and crushed its smartphone business, taking it from the No. 1 player in the world to a very small part of the overall market.

Honor has been looking to chart its own path since the spinoff, making a play especially for the premium segment of the smartphone arena and expanding overseas.

The Magic V2 is the company’s second foldable smartphone. The entire phone can be folded and unfolded.

Honor launched the handset in China in July, with the device starting at 8,999 yuan ($1,235), and it appears to have got off to a strong start. The Shenzhen-headquartered firm will be hoping for similar success abroad. Pricing has not yet been announced for the phone in international markets.