Apple’s foldable iPhone hits stores for $2,000 and supply is limited

By Aditya Soni, Christine Chen and Will Russell

SYDNEY/SHANGHAI/LONDON, Oct 23 (Reuters) – Apple’s first foldable phone, the iPhone Duo, arrived in stores around the world on Friday at a price of around $2,000, lower than previous iPhone launches.

From Singapore to Shanghai to London to Berlin, demand was strong, but with sales rationed, there were fewer of the queues and overnight campsites that once marked the arrival of new iPhones.

Rivals such as Samsung Electronics and Huawei Technologies have been selling high-end foldable phones for years, and the Duo is a test of whether Apple “can reinvent the small foldable market like the iPhone did for smartphones.”

It’s also a first challenge for Apple’s new CEO, John Ternus, the former hardware chief who unveiled the phone just a week after taking the job in September.

Apple’s estimated delivery dates for the Duo had fallen to late January within minutes of pre-orders opening a week ago, with demand outpacing supply. The American company described the response as “simply extraordinary”.

Apple has limited pre-orders to two handsets per customer and limited sales to walk-in buyers. In China, France, Hong Kong, India and Japan, they were only available to those who ordered online.

In Sydney, where the first Apple Store began selling the new passport-shaped phones on Friday, a queue formed outside before opening at 8 a.m. local time (9 p.m. GMT).

“It’s a bit of a luxury item for me, because it’s very expensive, but I just think, you know what? Life is too short,” said Simon Krishnan, a 48-year-old engineer who paid A$3,899 ($2,734) for a 512GB Duo.

Social media posts showed dozens of customers entering Apple’s Fifth Avenue store in New York as the iPhone maker’s marketing chief, Greg Joswiak, opened the doors. Some reports said people were camping outside the store as early as 4 a.m. local time (0800 GMT).

In China, a weak consumer market and rising memory costs have led to declining smartphone sales for six straight quarters, even as Apple’s market share has rebounded as some buyers have shifted to higher-end devices.

Liu Wei, a 26-year-old healthcare worker, already owns a foldable phone from Xiaomi, but still queues outside a Shanghai store from 6 a.m. for Apple’s first foldable phone.

“I’ve been using Apple products for many years and have more confidence (in the brand), so I bought one on launch day to try it out,” he said.

Many were waiting in line to pick up pre-orders, while others were hoping to get limited stock or browse display models.

Gn tech

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