iPhone Duo faces price scrutiny in China's crowded foldable market

Apple's first foldable phone, the iPhone Duo, received a tepid response from Chinese consumers focused on its 15,999 yuan ($2,230) price compared to cheaper domestic rivals. Chinese social media users expressed reluctance to buy immediately, citing value concerns against Xiaomi and Huawei foldables. Apple shares rose over 3% after launch, but the company faces a key test in Greater China, its third-biggest market generating around 17% of revenue. Huawei, Xiaomi, Honor, Oppo and Vivo already sell various foldable designs, with Xiaomi and Huawei launching new models priced at 10,999 yuan and 19,999 yuan. Users also worried about the Duo's lack of a physical SIM slot. Pre-orders begin Oct. 16, with sales starting Oct. 23.