Apple unsure when more foldable iPhones will be available after selling out

Apple CEO John Ternus expressed satisfaction with the initial reception to the company's newly launched foldable iPhone, despite its rapid sellout just over a week after its debut. The premium smartphone, priced at £1,999 in the UK, has proven to be highly sought-after, but some customers have encountered screen cracks. Despite the demand, Apple remains uncertain about the timeline for replenishing the stock of the foldable iPhones.

Sabhi Kahn, Apple's newly appointed chief operating officer, stated during a financial results discussion with analysts that predicting when supply and demand will align is currently quite challenging. Apple executives did not disclose any specific issues with the iPhone Duo during the call. However, the company had previously announced its intention to replace phones that experienced issues causing a "small number" of the devices to crack along the inner fold.

Notably, Apple reported record global iPhone sales, with a 17% year-over-year increase to $57 billion over the past year. Excluding the recently released iPhone Duo, iPhone sales grew by 17% to $57 billion. During the same period, Mac sales surged by 27% to $10.7 billion, also marking a new high for Apple. Overall, Apple's sales increased by 15% to $479 billion for the year.

Nonetheless, the company has been grappling with supply constraints for crucial components such as microprocessors and data storage, which have impacted sales of iPads and Macs. These challenges stem from difficulties in procuring advanced microprocessor nodes and rising costs for memory, driven by increased demand for data centres supporting artificial intelligence applications.