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Apple Enters Foldable Smartphone Market With IPhone Duo Launch

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Apple Enters Foldable Smartphone Market With IPhone Duo Launch

Apple (AAPL) unveiled its first foldable smartphone on Wednesday, entering a category currently led by Samsung.

The foldable iPhone Duo starts at $1,999, Apple said in a statement. Pre-orders for the device begin on Oct. 16, ahead of the phone becoming available on Oct. 23.

The iPhone Duo features the largest display ever on an iPhone, with a 7.6-inch display when unfolded, Apple said.

The launch gives Apple an entry into the foldable smartphone market pioneered by Samsung. Earlier this year, the South Korean tech giant launched its Galaxy Z Fold8 at a starting price of $1,899.

Apple unveiled the iPhone 18 Pro and its Pro Max version on Wednesday, with prices starting at $1,199 and $1,299, respectively. Both reflect a $100 hike on last year's comparable models.

Pre-orders for the iPhone 18 Pro and Pro Max begin Saturday, with availability from Sept. 18.

The foldable iPhone could contribute about $14 billion to Apple's December-quarter revenue, or 16% of total expected iPhone sales for the period, Morgan Stanley said in a note earlier this month.

"This may be Apple's most consequential iPhone launch since iPhone X," Morgan Stanley said at the time. "Apple's first foldable and the largest iPhone price increases in years creates a critical test of pricing power."

The brokerage expected Apple to build 7 million to 8 million foldable devices in the second half of the year and up to 20 million across its first-generation product cycle.

However, supply constraints may push significant shipments for the foldable iPhone to later in the fourth quarter, curbing an initial earnings boost, Tigress Financial Intelligence said in a note to clients Tuesday.

Shares of Apple closed 0.3% lower on Wednesday, and have gained 16% this year.

In July, Apple reported strong fiscal third-quarter results amid momentum in iPhone sales, though the company missed estimates for iPad and services revenue.

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