Apple Inc. (AAPL) is set to begin accepting preorders for its new iPhone Duo starting Friday, October 16, at 5 a.m. Pacific time. The device, which starts at $1,999, is Apple’s first foldable iPhone and features a 7.6-inch foldable display. To make the premium price more manageable, Apple is offering several options, including trade-ins, financing plans, and carrier promotions.
Customers can order the iPhone Duo through Apple’s website or Store app, with options for delivery, local pickup, and assistance from Apple Specialists. These specialists will guide customers through various payment and protection options, such as Apple Upgrade leasing, financing plans, carrier promotions, and AppleCare+ or AppleCare One coverage. Apple Trade In offers instant credits ranging from $175 to $885 for eligible iPhone 13 or newer models, which can reduce monthly payments.
Apple Upgrade, provided by Klarna, includes 12- and 24-month lease choices. The 24-month option starts at $57.99 per month before taxes and any applicable trade-in credits. Carrier promotions provide up to $1,200 in credit for customers trading in an iPhone 14 Pro Max or newer model while activating service with AT&T Inc. (T), T-Mobile US Inc. (TMUS), or Verizon Communications Inc. (VZ). Additionally, Apple Card holders in the U.S. can use 0% annual percentage rate installments and receive 3% Daily Cash upfront.
Apple’s shares reached all-time highs on October 13, amid new home-product announcements and investor anticipation surrounding the iPhone Duo. The company reportedly underestimated demand for the foldable iPhone and is increasing supply-chain orders by 30%, potentially raising initial production from an estimated 6-7 million units to nearly 10 million. On a year-to-date basis, Apple stock has surged 25.80%, and during Friday’s pre-market trading session, it was trading 1.83% higher at $348.26.