Apple Introduces First Foldable Smartphone, iPhone Duo, at September Event

The foldable smartphone market is not entirely new, with Royole debuting the FlexPai in 2018 and Samsung releasing the Galaxy Fold in 2019. Despite this, foldable models have not gained widespread popularity. However, Apple, known for enhancing existing technologies rather than being the first to market, may change that with the iPhone Duo.

During the event, Apple CEO John Ternus remarked that previous foldable phones seemed like "two phones awkwardly stuck together." The iPhone Duo features a passport-like design and a titanium frame, offering a 5.4-inch outer screen that unfolds to a 7.6-inch display. The device aims to combine the portability of a smartphone with the larger screen experience of a tablet.

The iPhone Duo will retail starting at $1,999 for a 256-GB model, which is only slightly more expensive than comparable models such as the Samsung Galaxy Z Fold 8 and Google Pixel 11 Pro Fold. The device can reach up to $3,199 for a 2 TB version. Preorders will begin on October 16, with sales starting on October 23 across 70 countries.

Last year, foldable smartphones constituted less than 2% of global smartphone shipments, totaling around 18.3 million units. However, IDC forecasts a 30% increase in foldable smartphone shipments this year, while non-foldable models are projected to decline by 1.4%. Counterpoint Research anticipates Apple will ship around 6 million units of the Duo this year. Analysts expect that Apple’s entry into the foldable market will help enhance its mainstream appeal. The Duo has received positive feedback from journalists for both its hardware and software, and it may find a particularly strong market presence in China, where foldable phones are already popular.

In addition to the Duo, Apple launched the iPhone 18 Pro and iPhone 18 Pro Max, both powered by the new A20 chip, with starting prices of $1,199 and $1,299, respectively. Apple also revealed two new Apple Watch models and a next generation of AirPods. To accommodate rising device prices, the company introduced Apple Upgrade, a leasing program allowing users to make low monthly payments and upgrade at the end of the lease.

The iPhone Duo's higher price point and the favorable reception it has received may contribute to an upgrade cycle that attracts new customers. Although foldable smartphones are not new, many believe that Apple’s latest offering may change perceptions and drive increased revenue amid a likely sluggish year for device shipments due to higher memory prices. The introduction of the Duo further solidifies Apple's ecosystem, potentially boosting service revenue and providing fresh excitement for investors.