Apple's $2,000 iPhone Duo Debuts to Global Queues, Muted China Resale Premiums

Apple (AAPL) began sales of its first foldable smartphone, the iPhone Duo, on Friday, drawing long lines at stores worldwide and pushing estimated delivery dates into late January after first-batch inventory sold out within minutes of the October 16 preorder launch. The device starts at $2,000, with the 2TB top model at $3,199 — a record for a mainstream smartphone. It marks Apple's most radical iPhone redesign in nearly 20 years and the first major hardware test for new CEO John Ternus, who took over in September. In China, resellers around stores offered premiums of 2,000 to 3,000 yuan, with up to 4,000 yuan for the 1TB model. Some said they were reluctant to bid higher on fears of a bubble. Secondary-market data showed resale premiums for all storage tiers narrowed nearly 50% (about 48% to 51% for 256GB and 512GB) a week after preorders opened, with buyers willing to pay roughly 2,000 yuan above list. IDC forecasts Apple will capture 44% of global foldable revenue and 31% of shipments in 2026, becoming the segment leader by both measures in 2027.