Apple enters foldable market with a new iPhone

Apple, led by new CEO John Ternus, unveiled its first foldable device on Wednesday, called iPhone Duo, alongside a slew of other products.

The iPhone Duo marks Apple’s entry into the foldable market more than seven years after Samsung’s first Galaxy Fold. The device’s base price is $1,999 for 256GB and can go up to $3,000 for more storage.

It is about the size of a passport when folded and opens up to iPad-level functionality. The crease in the middle is minimized with Apple’s custom nano-texture display material that is “perceptually flat,” says chief hardware officer Johny Srouji.

Powered by the A20 Pro chip, the Duo includes a dual 48-megapixel rear camera setup and Touch ID side-button integration. Preorders begin October 16, ahead of the October 23 release.

Entering the fold market
Counterpoint Research data shows that foldables accounted for just 2% (20 million units) of total global smartphone shipments last year; Apple aims to open up the market with its loyal fanbase.

Morgan Stanley projects it will ship 6.5 million Duos in its fiscal first quarter ending in December. That would contribute approximately 16% of Apple’s expected iPhone revenue for the quarter, according to Bloomberg.

Apart from iPhone Duo
Apple also presented the AirPods 5, Apple Watch, and iPhone 18 Pro models with new colors at yesterday’s event. It focused on every device’s AI capabilities and upgraded Siri software.

The iPhone 18 Pro and Pro Max also got a $100 price bump due to rising memory chip costs, starting at $1,199 and $1,299.