Foldable iPhone sells out in a week

Apple's new iPhone Duo sold out just over a week after its launch despite being the company's most expensive smartphone at nearly £2,000.

Apple cannot predict when it will restock

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.

“really hard to predict when supply and demand will be in balance”

Memory costs surge due to AI boom

Chief executive John Ternus said Apple is seeing unprecedented price rises in memory costs as the artificial intelligence industry invests billions in building data centres.

Ternus takes charge of foldable launch

John Ternus launched the iPhone Duo after taking over from Tim Cook in September. It is the smartphone's first major design change in almost twenty years.

Some Duo phones have cracking issues

Some buyers reported problems with the Duo's screen. Last week Apple said it would replace handsets affected by an issue that caused a small number to crack along the inside fold.

Apple raises prices across product range

Apple has lifted prices on nearly all of its hardware products by around twenty percent as it grapples with component shortages and surging memory costs heading into Christmas.