Scalpers in mainland China are slashing prices on Apple’s newly released iPhone Duo after the US tech giant’s first foldable smartphone drew mixed early consumer reviews over durability and software glitches.
In Shenzhen’s Huaqiangbei electronics market, a vendor surnamed Shen on Monday cut the premium on a black iPhone Duo with 1 terabyte of memory – one of the most popular models – by 2,800 yuan (14,000 baht), bringing the asking price down to 24,300 yuan from more than 25,000 yuan when the device hit shelves on Friday.
Interest rebounded slightly once prices softened, Shen said.
“Noticeably more customers have been asking for quotes today after learning mark-ups were coming down,” the vendor said. “Inventory remains tight.”
Similar price cuts unfolded on Idle Fish, China’s largest second-hand trading platform. Numerous iPhone Duo listings on Monday showed prices 1,000 to 2,000 yuan lower than opening-weekend offers, with some base models commanding premiums as low as 300 yuan over official retail prices.
Idle Fish, also known as Xianyu, is operated by Alibaba Group Holding, owner of the South China Morning Post.
The rapid drop in scalper premiums follows strong initial demand when pre-orders opened on October 16. The passport-style foldable sold out across Apple’s official channels within minutes, pushing estimated delivery dates into early next year.
Momentum slowed over the weekend as early adopters took to social media to complain about fragile hinges and screen fractures. Other users flagged app compatibility issues, with many platforms still updating user interfaces for the wider inner screen.
Despite the complaints, Ivan Lam, senior analyst at Counterpoint Research, said initial demand in China – the world’s largest market for foldable phones – and the rest of the world was “in line with expectations”.
Lam cautioned, however, that enthusiasm was expected to wane once early users got their devices.
“Because of the iPhone Duo’s premium pricing, sales momentum in China will taper off rapidly after the first month or two,” Lam said. “The high price point has already screened out potential buyers, while foldable smartphones remain a niche segment.”
A report by research firm IDC last week estimated Apple would ship 10 million iPhone Duos worldwide in its first 12 months, with the company capturing 31 per cent of the global foldable market this year and taking the crown in both shipment volume and revenue by next year.
IDC identified production bottlenecks as Apple’s biggest near-term hurdle.
“If supply falls short, or delivery times are too long, frustration builds up among customers and the early momentum cools,” Francisco Jeronimo, vice-president for worldwide client devices at IDC, said in the report.
“Apple’s short-term challenge may be less about persuading people that the experience is worthwhile and more about getting the device into their hands.”