Apple hopes you’ll see this new iPhone and fold
John Ternus took the stage in Cupertino yesterday for the first time as Apple CEO and delivered what everyone was expecting—nearly 10 uninterrupted minutes of Apple Hands and a new folding iPhone that has the potential to become the leader in a virtually untapped market. The details: The iPhone Duo will be available for preorder on Oct. 16 at a starting price of $2,000, but it can cost as much as $3,000 if you want more storage for cat videos. When unfolded, it acts more like an iPad than two iPhones, and it’s about the same size as a passport when folded. Bringing Apple into the fold Consumer electronics companies shipped a total of ~20 million foldables last year—accounting for ~2% of all smartphone sales, per Counterpoint Research. The Duo is tracking to make a splash instantly: Morgan Stanley expects Apple to ship 6.5 million Duos in its fiscal first quarter, which ends in December. That amounts to ~$14 billion in sales, or about 16% of total iPhone revenue expected in the...