Apple debuts $1,999 passport-shaped foldable phone, called Duo

Apple unveiled a $1,999 foldable phone called Duo on Wednesday, marking a significant change for the company's flagship product. The Duo, shaped like a passport, boasts a rounded edge and a 7.6-inch wide screen that can be viewed horizontally or vertically. The phone's single display is located on the front when folded. Apple positioned the device as a business productivity tool, showcasing its ability to manage Zoom calls and view the Slack messaging app efficiently.

The Duo's thinner profile, when folded, signifies the company's first major overhaul of the iPhone since removing the physical home button in 2017. CEO John Ternus emphasized the phone's unique features, such as supporting multiple app windows simultaneously and delivering an iPad-like experience in a pocket-sized device. Ternus criticized existing foldables for being awkward and poorly suited for common tasks.

The iPhone Duo will feature Apple's new A20 chip and C2 modem chip, as part of the company's shift away from Qualcomm's wireless data chips. Ternus positioned the iPhone Duo as a premium growth opportunity and a new revenue stream for Apple. Analysts predict that Apple will sell all foldable iPhones it can produce and capture a 40% share of the lucrative niche by the end of next year.