Apple's $1,999 foldable iPhone sold out, and there's no restock date

Apple's new foldable phone, the iPhone Duo, sold out soon after it went on sale, and Apple does not know when more will be in stock. It costs $1,999 (£1,999 in the UK). Apple's chief operating officer, Sabhi Kahn, said on Monday that it is "really hard to predict when supply and demand will be in balance."

What Apple said

John Ternus, who became Apple's chief executive in September after Tim Cook, said he was "thrilled" by the early reaction to the Duo. The phone went on sale toward the end of October. Kahn made his comments on a call with financial analysts about Apple's latest results.

The cracked screen issue

Some buyers have seen their screens crack. Last week, Apple said it would replace any phones affected by a problem that caused a "small number" of them to crack along the inside fold. Apple executives did not bring up the issue on Monday's call.

Why supply is tight

Kahn said most Apple devices still face supply limits. Part of the problem is getting enough of the most advanced computer chips, which let devices run faster. Most are made by TSMC, based in Taiwan. Kahn said these limits should continue into next year, especially for iPads and Macs.

Apple also described "unexpected demand" for its products, which makes the shortage worse.

Why prices are rising

Ternus said Apple still faces "unprecedented" cost increases for memory, the part that stores apps, photos and messages. Much of the world's memory capacity is tied up in data centers, which have boomed as AI chatbots from companies such as OpenAI and Anthropic have become popular. Cook earlier called the cost jump a "thousand year flood." Apple has raised prices on essentially all its hardware by around 20%.

The numbers

• iPhone sales rose 17% to $57bn in the three months to 26 September, before the Duo launched.
• Mac sales rose 27% to $10.7bn, a record.
• Overall sales for the year rose 15% to $479bn.
• iPad sales fell 10% and wearables, including Watch and headphones, fell 7%.

What it means for buyers

Anyone who wants a Duo should expect a wait, since Apple has given no restock date. Buyers should look closely at the inside fold when the phone arrives. Anyone planning to buy other Apple gear should expect higher prices, and possibly limited stock on Macs and iPads.