Apple's iPhone Duo China launch draws scalpers in Beijing
Apple's new foldable iPhone Duo has launched in China to high demand, despite a significant price tag and limited supply. Scalpers are actively seeking to profit from the device, while competitors like Huawei and Xiaomi continue to challenge Apple's market share with their own foldable offerings.
Why it matters
The launch highlights the intense competition in the Chinese smartphone market and the growing consumer interest in foldable technology as a premium product category.
The iPhone Duo has an eye-popping price tag, but initial interest in Apple 's first foldable phone in China appears solid.
On the day of the global launch on Friday, scalpers like Alex Wang stood outside the flagship store in Beijing 's popular shopping area, Sanlitun, offering to pay customers an extra 3,000 Chinese yuan ($448) to buy their newly purchased phones on the spot.
"I feel the Duo can be sold with a higher price for half a month," he told CNBC while watching the lines of Duo customers who had pre-booked their phones. "The main reason is the tight supply."
Though foldables are still a niche product globally, China's market is the single largest, according to Counterpoint Research.
Apple fan Mary Tong, who was first in a line of about 100 people at the Sanlitun store, showed up at 6 a.m. to pick up her foldable device.
Headlinne story · 8 newsrooms
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