During the global launch of the iPhone Duo, Apple’s first foldable smartphone, scalpers offered up to 3,000 yuan extra to customers buying their device on the spot at the Sanlitun store in Beijing. The premium, expected to last for around a fortnight, reflects tight supply and strong demand in China, the world’s largest foldable smartphone market. Apple also limited online purchases to two devices per order and offered no walk-in sales on launch day in mainland China. The Chinese version of Apple Intelligence is expected to offer fewer features, despite the approval of Alibaba AI models. Huawei and Xiaomi have meanwhile launched their own premium foldables, the Mate XT2 and the 18 Fold, at prices close to $3,000.
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