iPhone Duo in short supply from day-one preorders ... Can it overcome its 3.29 million won price barrier?

[Financial News] Apple’s first foldable smartphone, the “iPhone Duo,” is generating hopes of a hit after its initial stock sold out on the first day of preorders. However, its high list price, starting at 3.29 million won, and limited supply are seen as potential obstacles, and attention is focused on whether its early popularity will translate into increased sales and invigorate South Korea’s foldable-phone market.
According to telecom industry sources on the 18th, Apple began domestic preorders for the iPhone Duo on the 16th. It is due to go on sale on the 23rd. Orders poured in from the first day of preorders, pushing delivery dates back to the end of January next year. The delay is thought to reflect both interest in Apple’s first foldable phone and a shortage of initial supply.
Even amid strong initial demand for preorders, the high cost of purchase is seen as a potential obstacle to a hit. The iPhone Duo’s domestic list price starts at 3.29 million won for the 256GB model. A two-year AppleCare+ plan, which provides device coverage, costs 549,000 won—190,000 won more than for the iPhone 18 Pro. If the inner display is damaged without coverage, the repair bill alone would come to 1.649 million won. Replacing the device due to other damage would cost 2.469 million won.
With the high price seen as a factor that could make buyers hesitate, the three mobile carriers are also offering benefits to ease the burden on consumers. These include paying extra compensation when customers trade in their existing smartphones, or guaranteeing part of a device’s price when they switch to a new iPhone after using their current phone for a set period.
SK Telecom offers up to 1.17 million won for trading in an existing smartphone, and an additional special reward of up to 200,000 won from T Direct Shop to the first 1,000 customers.
KT offers “365 Phone Care,” which covers loss, theft and damage to a device, and “Phone Change iDuo,” which guarantees up to 50% of the list price when customers return their existing phone after two years. LG Uplus has become the first carrier in South Korea to introduce “70% Compensation Pass,” which provides compensation of up to 70% of the list price when customers return their device and upgrade to a new iPhone from the sixth month after activating an iPhone Duo.
However, carrier compensation benefits are available only if customers meet certain conditions, such as returning their device and upgrading to a new one. Some programs also charge a monthly fee, so buyers should consider not only the compensation but also the enrollment conditions and ongoing costs when assessing the actual cost of purchase.
There is also interest in whether the iPhone Duo’s launch could revive the subdued number-transfer market. According to the Korea Telecommunications Operators Association (KTOA), there were about 600,000 number transfers in September, down around 12% from about 680,000 the previous month. The market contracted from the previous month despite the launch of the iPhone 18 Pro series.
Industry sources say demand from people who delayed replacing their phones while waiting for the iPhone Duo may have played some part. However, they say it remains to be seen whether the iPhone Duo’s initial success will lead to broader growth in the number-transfer market. An industry official said, “The iPhone Duo has a high list price, and its initial supply is reportedly limited, so it may be difficult to expect number-transfer demand at around the 680,000 recorded when the Samsung Galaxy Z Fold 8 launched in August.”
[email protected] Choi Hye-rim Reporter