Apple has confirmed that it is unsure when it will restock its new foldable iPhone Duo as the holiday shopping season approaches. The flagship device, priced at nearly $2,000, sold out just over a week after launch, despite being the company’s most expensive smartphone.
Senior executives warned of “constraints” in sourcing key components and admitted it is “really hard to predict when supply and demand will be in balance.” The issue is compounded by an “unprecedented” rise in memory costs, driven by the artificial intelligence industry’s demand for data‑centre infrastructure.
New chief executive John Ternus, who took the helm in September, said the Duo had received a “thrilled” response from early adopters, but that the company is working hard to get the phones into customers’ hands as quickly as possible. Chief operating officer Sabih Khan noted that supply constraints are expected to continue into next year, especially for iPads and Macs.
Apple’s latest quarterly results, released Monday, did not include sales of the Duo, which debuted at the end of October. Nevertheless, the company reported record global iPhone sales for the year, with iPhone revenue rising 17% to $57 bn. Mac sales grew 27% to a record $10.7 bn, while iPad and wearable sales fell 10% and 7% respectively.
Apple has raised prices on nearly all its hardware products by around 20% to offset rising component costs. Share prices fell 1.8% in after‑hours trading following the announcement.
Investors remain cautious about the company’s guidance on profit margins and memory‑chip costs, but analysts note that margins well north of 45% remain impressive for a well‑established firm.
Apple has said it will replace any Duo handsets that suffered from a screen issue that caused a small number to crack along the inside fold, but has not yet disclosed how many affected units will be replaced.
