Apple on Friday said its foldable iPhone Duo had seen "nothing short of extraordinary" demand, selling out on the company website until next year within hours of going on sale. The $5 trillion tech group said it would continue to accept online orders for the phone, which costs upwards of $1,999 and was unveiled by new chief executive John Ternus. The Duo marks the biggest-ever design shake-up for Apple's best-selling smartphone, which still accounts for about half of the company's sales two decades after it was introduced. However, Apple has faced component supply shortages this year, particularly in memory chips, leading it to fall behind demand and raise prices across its line-up. Delivery times have already slipped into late January, despite an original promise of October 23 availability.
It is rare for Apple product delivery dates to slip so extensively. The company is known for efficient global supply chain management. During the 2022 pandemic, some iPhone 14 deliveries slipped by more than one month due to China factory shutdowns, but a multi-month delay for an iPhone is almost unknown. The Duo can cost as much as $3,200 with maximum storage, a record price for an iPhone. The latest iPhone 18 Pro and Pro Max, which went on sale last month, have also seen strong sales as Apple heads into its critical holiday quarter, despite a contracting global smartphone market. According to Counterpoint Research, iPhone 18 Pro models saw a "stronger launch than their predecessors," particularly in China and India. This week, Apple executive chair Tim Cook told Chinese media that the company's suite of Apple Intelligence AI features, co-developed with Alibaba, had finally been approved by regulators, paving the way for its launch in the country more than two years after it was first announced.
Source: Financial Times Companies · Summarized by HeadlinesBriefing