Key facts
- Apple Chief Operating Officer Sabih Khan said iPhone Duo supply is constrained and the timing of balance is hard to predict.
- Apple CEO John Ternus said the company is working to get iPhone Duo into customers' hands quickly.
- Apple said it is deepening its partnership with titanium producer Perryman for materials for the foldable device.
- Khan said Apple raised prices on a number of products, calling the decisions reluctant.
Apple Chief Operating Officer Sabih Khan said on the company's fiscal fourth-quarter earnings call on Monday that supply of the new iPhone Duo is constrained and that it is hard to predict when supply and demand will balance. "iPhone Duo is constrained as of today," Khan said, adding that the ramp is going well and the company is working to get the product to customers as quickly as possible.
Apple CEO John Ternus said in opening remarks that the company was pleased with the early response from reviewers and customers and is working to get iPhone Duo into customers' hands as quickly as it can.
The call also drew questions about rising memory chip costs, which the report linked to demand from the AI industry. Khan said Apple had raised prices on a number of products and that those decisions were made reluctantly.
Apple said it is deepening its partnership with Perryman, a titanium producer, for materials for the new foldable device. The report said customers who did not wait in line at an Apple Store or immediately preorder are seeing ship times stretch into next year, and that Verizon has been apologizing to customers for the delays by offering gift cards. It also cited an October report from the Financial Times in which Apple described demand for the Duo as extraordinary after the device sold out on its website within hours of going on sale.