Apple Hikes Prices, Debuts iPhone Duo

Apple is redefining "premium" with its boldest move in years: a $1,999 foldable iPhone, the Duo, launched under new CEO John Ternus. Not only did Apple raise prices across its entire iPhone lineup, but it also bet big on foldable tech—a segment that’s still niche, making up just 1.6% of the smartphone market. The Duo packs a passport-sized design, a 7.6-inch inner display, titanium frame, and promises minimal crease visibility, all powered by the new A20 Pro chip. But with rising memory costs driving up prices, the stakes are high: is this innovative leap enough to justify the sticker shock, and can it expand Apple’s dominance as consumers face their own cost pressures?

Here’s the catch: hardware is only half the story. Apple’s software pitch is crucial, with iOS 27 designed to make the foldable experience seamless, supporting multitasking, split views, and enhanced AI features. Yet, questions loom about real-world durability and whether carriers will step in with subsidies to make Duo mainstream. Meanwhile, the Pro models are up $100 each, and older models aren’t spared from price hikes, raising real questions about how much price-sensitive buyers will tolerate and whether Apple’s bet on high-end scarcity will pay off.

Featuring insights from Fortune, Business Insider, and Variety.

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