Apple's iPhone Duo Preorders Sell Out Amid High Demand

Apple (AAPL) has launched its most expensive iPhone ever, the iPhone Duo, starting at $1,999 and reaching beyond $3,000 for the 2TB model. Preorders began on Friday and quickly sold out, with delivery estimates slipping into late January. Apple acknowledged the strong demand, calling it 'nothing short of extraordinary.' This marks a significant design shift, being Apple's first foldable phone, aiming to appeal to their highest-spending clients rather than dominating the mass market.

The iPhone Duo represents a major price leap over Apple's existing Pro and Pro Max lines. Analysts suggest that, despite foldables making up only 2% of global smartphone units this year, they account for nearly 7% of industry revenue. Forecasts suggest foldables could reach 10% of revenue by 2030 with just 3% unit sales. The Duo's pricing undercuts expectations of a $2,400 to $2,500 start, positioning it to capture significant market share and reinforce Apple's status-symbol reputation.

This launch matters as it tests Apple's ability to capitalize on high-margin products in a niche segment. If successful, it could enhance Apple's revenue and brand positioning in premium markets without needing widespread adoption.