Apple's iPhone Duo Sells Out Into Late January, But Resale Premiums Cool as Scalpers Reject 256GB Models

Apple's (AAPL) first foldable phone, the iPhone Duo, sold out on its October 16 preorder launch, with official delivery dates now pushed to late January. Yet scalper premiums deflated on the first sale day, with some resellers refusing to buy the entry-level 256GB model, Caixin reported. Priced from 15,999 yuan to 26,499 yuan across 256GB, 512GB, 1TB and 2TB tiers, the device is Apple's most expensive phone to date. In Shanghai and Guangzhou, premiums on the popular 1TB version fell from 2,200 yuan in the morning to 1,600-1,800 yuan by 10:30 a.m., while 256GB models saw 900 yuan premiums or outright refusals. The 2TB model drew offers of only a few hundred yuan. Counterpoint Research's Liz Lee attributed the early frenzy to tight supply and speculation, adding that the pullback signals improving supply expectations. JPMorgan expects iPhone Duo shipments of 8-9 million units this year, below Apple's 10 million target, citing hinge and ultra-thin glass capacity constraints.