At first glance, it’s hard to understand who is the intended consumer for Apple’s upcoming foldable screen phones, aka “iPhone Duo,” with its $2k selling price. With a 7.6 inch screen (when unfolded), this device is, in reality, a tablet pretending to be a smartphone.
Sure, you could use the extra screen space for facetime and streaming videos. Power execs will have their secretaries and aides carry these devices for Zoom and other online meetings on the go. So, I do expect it to be widely adapted at the executive level in business settings.
But for the rank and file workers, a $2,000 phone becomes a demonstration of your wealth, income, or earning power. I wouldn’t be surprised if youngsters start popping up at bars and social events carrying the Duo. And loan sharks will likely have a field day offering loans to desperate folks fishing for wealthy partners to hook up with and treating the Duo as a tool for this endeavor. Pretend until you make it indeed.
As for Apple itself, the company obviously realizes the Duo would cannabilize iPad sales. But iPhones is were the company makes its money, and the costs of chips make iPads less profitable than before. So losing iPad sales wouldn’t hurt as much if Apple could convince its consumers to pony up more $$$ for the Duo instead.
So, will people start saving money now for the Duo launch in late October? Will we see a noticeable dropoff in consumer purchases/spending as a result?
