Tech & AI
Apple's first foldable iPhone goes on sale worldwide at about $2,000, with deliveries pushed to late January and sales rationed
The iPhone Duo is an early test for new chief executive John Ternus as Apple enters a market Samsung and Huawei have served for years.
HedgeWeekly Tech & AI Desk ·
Apple's first foldable smartphone, the iPhone Duo, went on sale in stores around the world on October 23 at a US price of about $2,000. Supply was tight: estimated delivery dates for new orders slipped to late January within minutes of pre-orders opening a week earlier. Apple limited pre-orders to two phones per customer and restricted walk-in sales, and Reuters reported shorter queues than at past iPhone launches. Apple described demand as extraordinary.
In China, France, Hong Kong, India and Japan, the Duo was sold only to customers who had already ordered online. Prices outside the US were higher; one buyer in Sydney paid A$3,899 for a 512GB model, about $2,734. In Hong Kong, a 256GB unit cost HK$17,499 in an online pre-sale, according to Reuters.
The launch is one of the first big tests for John Ternus, Apple's former hardware chief, who became chief executive in September. Reviewers praised the hinge, the joint on which the screen folds, but criticised the lack of a telephoto camera and the fact that many third-party apps are not yet adapted to the larger screen. Research firm IDC expects Apple to take 44% of the foldable market by value and 31% by units in 2026, and to lead on both measures by 2027. Apple shares were down 0.2% in early afternoon trading in New York, TheStreet reported.
Why it matters: a $2,000 device lifts Apple's average selling price, and the foldable category gives it a new product line in a mature smartphone market. Rationing points to production limits, so the size of the first-quarter contribution depends on how fast suppliers can raise output. The launch also matters for China, where smartphone shipments have fallen for six straight quarters yet Apple has gained share. Investors will look for comments on Duo supply and demand when Apple next reports results.