Apple enters China’s foldable smartphone market with iPhone Duo
Apple has announced its first foldable smartphone, the iPhone Duo, which is entering the Chinese market at a price of 15,999 yuan, or about $2,230. The device will compete with models already available in the country from Huawei, Xiaomi, Honor, Oppo and Vivo, CNBC Top News reports.
Price and competitors
The iPhone Duo costs more than the new Xiaomi 18 Fold, priced at 10,999 yuan, but less than the triple-folding Huawei Mate XT2 at 19,999 yuan. Xiaomi and Huawei unveiled their new flagship foldable devices on Monday, ahead of Apple’s event on Wednesday.
In China, foldable smartphones are already available in book-style, flip-phone and triple-fold formats. Therefore, the iPhone Duo is entering a more established market than in many other countries.
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The first reactions from Chinese WeChat users focused primarily on the price of the new product and how it compares with offerings from local manufacturers. Some commentators also noted that the iPhone Duo lacks a physical SIM card slot. As CNBC notes, users in mainland China may need to visit a carrier’s office to verify their identity in order to activate an eSIM.
Significance of the Chinese market
Greater China is Apple’s third-largest market and accounts for about 17% of the company’s total revenue. According to Counterpoint, Huawei led China’s smartphone market in the first and second quarters, Apple ranked second, followed by Vivo and Oppo.
Pre-orders for the iPhone Duo are set to begin on October 16, with sales starting on October 23. The Xiaomi 18 Fold will go on sale on Thursday, while the Huawei Mate XT2 will become available several days later. Following Apple’s presentation, its shares rose by more than 3%.
