Chinese resellers hoping to profit from Apple's first foldable smartphone, the iPhone Duo, are facing significant losses. After an initial surge in resale prices due to scarcity, prices have dropped sharply following reports of screen defects.
According to Chinese media outlets Global Times and South China Morning Post, the resale premium for the iPhone Duo, which launched in China on October 23, has decreased significantly within just a few days. Some platforms are now selling the device for prices lower than the official retail price.
The iPhone Duo is Apple's first foldable smartphone, with a starting price of 15,999 yuan (approximately $2,317) for the 256GB model, making it the most expensive iPhone to date.
Despite the high price, initial demand was strong. Pre-orders began on October 16, and the first batch sold out within minutes. Even after the official launch on October 23, supply shortages persisted.
As demand surged, resale prices at one point exceeded the official price by over 10,000 yuan (about $1,460), attracting resellers looking to profit from the new device.
However, the situation changed dramatically after reports of screen defects emerged. Some users reported cracks or lines appearing along the fold shortly after using the iPhone Duo. Additionally, compatibility issues with the popular Chinese messaging app WeChat sparked further controversy online.
Apple acknowledged the screen defect but stated that it had not received reports regarding compatibility issues with applications like WeChat.
As a result, resale prices began to fall rapidly. Some platforms are now offering the iPhone Duo at prices approximately 500 yuan (about $73) below the official retail price due to subsidies. On the online trading platform Dou, the resale premium has dropped to around 290 yuan (about $42).
A similar trend is observed in Shenzhen, Guangdong Province, China's largest electronics market. One local reseller told SCMP that they reduced the premium on the 1TB model of the iPhone Duo by 2,800 yuan (about $408), adjusting the selling price from over 25,000 yuan (about $3,650) to 24,300 yuan (about $3,550).
On the second-hand trading platform Xianyu, the selling price of the iPhone Duo has reportedly fallen by 1,000 to 2,000 yuan (approximately $146 to $292) compared to its launch price.
Some resellers have reported actual losses. A reseller in Shanghai told Chinese media outlet Pengpai that on the first day of the iPhone Duo's release, the resale premium was between 2,000 and 3,000 yuan (about $292 to $438), but prices did not rise further, leading many resellers to incur losses. They noted that some individuals who secured inventory on the first day have yet to sell their units, with some facing losses of 80,000 to 100,000 yuan (approximately $11,600 to $14,500).
Despite the sharp decline in resale prices, this does not indicate poor sales for the iPhone Duo. The initial stock continues to sell out quickly. Apple has informed customers that even if they place an online order for the iPhone Duo now, they will not receive the product until late January 2027.
* This article has been translated by AI.
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