Apple Debuts Foldable iPhone Duo with Price Tag of $1,999

Apple's latest event was uncharacteristically exciting for the tech giant. The company unveiled its first foldable smartphone, the iPhone Duo, which folds out from a conventional 5.4-inch screen into a 7.6-inch display. This is the biggest change to the iPhone's physical design since Steve Jobs introduced the original model.

The Duo runs on Apple's new A20 Pro chip and supports two apps side by side. It also comes with a hefty price tag, $1,999. This creates an entirely new tier above Apple's conventional premium smartphones, with the iPhone 18 Pro now starting at $1,199 and the Pro Max at $1,299.

Apple doesn't need to sell hundreds of millions of Duo units to make it worthwhile. The company is betting that its arrival will make the foldable smartphone category considerably bigger. Bloomberg Intelligence estimates Apple could sell around 14 million Duo units during its first 12 months, generating roughly $28 billion in revenue.

However, traders should be cautious about how much of an impact the Duo will have on Apple's financials. If it attracts Apple's highest-spending customers, encourages upgrades and pulls users deeper into services, it could become financially meaningful without ever becoming the company's highest-volume phone.