Apple has priced its new iPhone Duo at as much as $3,199, setting a record for the price of a mass-market smartphone as the company tests how much consumers are willing to pay for its first foldable iPhone.
The iPhone Duo starts at $1,999 for a model with 256 gigabytes of storage. The 512GB version costs $2,199, while the 1-terabyte configuration is priced at $2,599. The top-end model, with 2TB of storage, costs $3,199.
The record price reflects the complex engineering and higher component costs involved in producing the foldable device. Apple fitted the Duo with two advanced displays and had to miniaturise several components to make the design possible.
A severe memory-chip shortage has also pushed up costs across the consumer electronics industry, adding pressure to Apple’s pricing strategy.
Despite the higher production costs, Apple sought to keep the starting price below $2,000, while using more expensive configurations to improve its margins.
The $3,199 model costs roughly as much as Apple’s MacBook Pro laptops and comes close to the $3,699 Vision Pro headset, which struggled partly because of its high price.
Apple’s rivals have also moved into the premium foldable market. The base iPhone Duo costs $100 more than Google’s Pixel 11 Pro Fold and Samsung’s Galaxy Z Fold8. Samsung’s Fold8 Ultra, meanwhile, reaches $2,699 but offers 1TB of storage.
Apple is also attempting to make the Duo more affordable through a new leasing programme. Customers can get the basic model for $57.99 per month, while the 2TB version costs $92.81.
Prices are also higher in some overseas markets. The Duo starts at C$2,999 in Canada and A$3,499 in Australia.
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