Apple has launched its first foldable iPhone, the iPhone Duo, priced from $1,999 (£1,480). This move marks the tech giant's entry into the foldable market, more than seven years after Samsung introduced the format.
Alongside the new foldable device, Apple has also raised prices across much of its existing iPhone range. The iPhone 17 has increased by $100 to $899 in the US, while the iPhone Air is now $1,099, up from $999. Even the two-year-old iPhone 16 has returned to its original $799 launch price.
Following the launch, Apple shares slipped by around 0.3 per cent. This lukewarm reception puts focus on whether customers will accept Apple's strategy of moving further upmarket, as higher component costs coincide with an already expensive smartphone line-up.
Amanda Mitchell, a senior telecoms analyst at Globaldata, noted that Apple is betting its brand and customer base can make foldables mainstream, a feat rivals have not yet achieved. She also suggested that some of the Duo's premium price reflects an "industry-wide memory crunch" due to surging demand for memory chips from AI data centres.