Apple's $1,999 foldable iPhone targets the high-end market as standard smartphones blur together

Apple has unveiled the iPhone Duo, a foldable phone priced at $1,999, marking the biggest design change to the iPhone in nearly two decades, despite foldable phones being a niche market with less than 2 percent of handset sales. The move aims to re-establish the high end of the phone market, as standard smartphones have become indistinguishable across price points. Apple is competing with Samsung’s $1,900 foldable, and IDC expects foldable sales to grow 12 percent to 22.9 million this year, even as overall smartphone sales drop 17 percent due to chip shortages and price hikes. The iPhone Duo addresses past foldable flaws with a thin design, a 5.4-inch outer screen, and a matte inner display, though it lacks the 18 Pro’s advanced camera and face scanner. Analysts compare the strategy to luxury goods like Chanel handbags, where exclusivity drives desire, similar to past TV makers’ experiments with curved displays.