Apple's $1,999 iPhone Duo puts the company's status-symbol power to the test

Apple’s iPhone Duo went up for preorder Friday with launch-day pickup stock quickly selling out, and some online delivery estimates already slipping into late January. The company’s first foldable iPhone starts at $1,999 and moves into a new top tier above the Pro and Pro Max at 2TB, priced over $3,000. Apple said preorder demand was “nothing short of extraordinary” and is continuing to accept orders online. Analysts speaking with CNBC argue the strategy isn’t about foldables becoming mainstream, but about winning value from a smaller group of Apple’s highest-spending customers. IDC forecasts foldables at just over 2% of global units but nearly 7% of industry revenue this year.