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Apple unsure when it will get more foldable iPhones ahead of Christmas
Apple says it does not know when more foldable iPhone Duos will be back in stock ahead of Christmas.
Key points
- The iPhone Duo sold out just over a week after its launch.
- Apple warned of constraints in sourcing key components and said it was really hard to predict when supply and demand would be in balance.
- Apple's results for the three months to 26 September did not include Duo sales, which began at the end of October.
Why it matters. Ongoing supply constraints and rising memory costs could affect Apple's sales in the key Christmas trading period, and an analyst cited concerns over profit margin guidance.
Apple said on Monday it does not know when it will restock the iPhone Duo, which sold out just over a week after launch despite costing nearly $2,000. Chief executive John Ternus said iPhone revenue rose 17% to $57bn (£42bn) in the quarter to 26 September. Khan said supply constraints were expected to last into next year, and Apple shares fell 1.8% in after-hours trading.
Latest updates
Apple unsure when it will get more foldable iPhones ahead of Christmas
4 hours ago Kali Hays Technology reporter Reuters Chief executive John Ternus was presenting his first Apple results since taking over from Tim Cook Apple has said it does not know when it will get more of its new foldable iPhones back in stock as the company heads towards the key Christmas trading period. The iPhone Duo sold out just over a week after its launch, despite being Apple's most expensive smartphone at a cost of nearly $2,000. The company warned of "constraints" in sourcing key components and admitted it was "really hard to predict when supply and demand will be in balance". Meanwhile, Apple's new chief executive John Ternus said the firm was seeing an "unprecedented" price rise in memory costs, including chips, as the artificial intelligence (AI) industry continues to invest billions of dollars in building data centres. Last week, the company said it would replace any handsets that were affected by an issue that caused a "small number" to crack along the inside fold. As it released its latest financial figures on Monday, Apple's executives did not mention any problems with the iPhone Duo. Ternus said he was "thrilled" by the early reaction to the foldable phone. Chief operating officer Sabih Khan said the company was working hard to get the Duo "into the hands of our customers as quickly as possible". Apple's results for the three months to 26 September did not inc.