Apple's iPhone Duo, priced at 15,999 yuan ($2,230), has received a lukewarm reception from Chinese consumers who are more price-sensitive than their U.S. counterparts. Comments on social media indicate that many potential buyers are opting to wait for a second-generation model rather than purchasing the current version.
This response is significant as Greater China accounts for about 17% of Apple's total revenue and is a highly competitive market for foldable phones, with established players like Huawei, Xiaomi, Honor, Oppo, and Vivo already offering various models.
Recent launches from Xiaomi and Huawei, including the Xiaomi 18 Fold and the Mate XT2, further intensify the competition, with prices set lower than Apple's offering. Additionally, concerns have been raised about the iPhone Duo's lack of a physical SIM-card slot, which could complicate activation for users in mainland China.
Despite a 3% increase in Apple shares following the launch event, the company's ability to capture market share in this established segment remains uncertain, especially as Samsung has regained its lead in global smartphone shipments and is expected to dominate the foldable market with a 32% share compared to Apple's 25% and Huawei's 24%