Apple unsure when it will get more foldable iPhones ahead of Christmas

Apple has faced difficulties in restocking its new foldable iPhones, the iPhone Duo, as it approaches the crucial Christmas trading period. The company's latest financial figures, released on Monday, did not mention any issues with the foldable phone, which was released at the end of October. Despite its high price tag of nearly $2,000, the iPhone Duo sold out just over a week after its launch.

Apple CEO John Ternus, who took over from Tim Cook in September, revealed that the firm is experiencing an "unprecedented" rise in memory costs, including chips, due to the AI industry's investment in data centres. Ternus launched the Duo after taking over as CEO. The company has replaced handsets affected by a "small number" of issues causing the screen to crack along the inside fold.

Apple's COO, Sabih Khan, stated that the company is working diligently to distribute the Duo to customers as quickly as possible. Despite the sales of the Duo not being included in Apple's financial results, the company reported a 17% rise in iPhone revenue to $57bn over the three months to 26 September. However, sales of Mac computers and Apple's wearable products fell by 27% and 10%, respectively.

Apple's pre-tax profit increased from $32.8bn to $36.1bn during the period. However, the company's share price dropped by 1.8% in after-hours trading. The main issue affecting iPhone supply chain is the sourcing of key components and the difficulty in predicting when supply and demand will balance.