Apple's Foldable iPhone Debut Fails to Impress Investors

Apple's (AAPL) shares declined by about 0.3% after investors reacted lukewarmly to the debut of the company's first foldable iPhone, the $1,999 iPhone Duo.

The device features a conventional 5.4-inch screen that expands into a 7.6-inch display and is powered by Apple's new A20 Pro chip.

Amanda Mitchell, senior telecoms analyst at Globaldata, noted that Apple is relying on its brand and vast customer base to bring foldables 'from niche to mainstream,' a feat rivals have so far failed to achieve.

Foldables accounted for just 1.6% of global smartphone sales last year, despite years of launches from Android competitors including Samsung, Huawei, and Google.