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

Apple's new head, John Ternus, expressed delight over the early reception of the company's new foldable iPhone, the iPhone Duo, after it sold out just over a week after its launch. The premium smartphone, priced at $1,999, has caused some buyers to experience cracked screens. Apple's new chief operating officer, Sabhi Kahn, acknowledged the ongoing high demand for the device, but admitted that they are unsure when additional Duos will become available.

During a financial results discussion with analysts, Kahn stated that it is currently challenging to predict when supply and demand will reach equilibrium.

Apple did not disclose any issues with the iPhone Duo during the call, but the company had earlier disclosed plans to replace phones affected by a "small number" of instances where the new phones cracked along the inner fold. The company reported that it has sold the highest number of iPhones globally in the past year, with iPhone sales rising 17% to $57 billion in the three months to September 26, excluding sales of the iPhone Duo.

Overall sales for Apple reached $479 billion for the year, with Mac sales growing 27% to $10.7 billion, marking another record for the company.

However, Apple has warned that crucial components, including Mac computers and iPads, were constrained, causing slowdowns in sales. Mac sales growth was attributed to the company's increased demand for microprocessors with advanced nodes, which are manufactured mostly through Taiwan Semiconductor Manufacturing Company (TSMC) in Taiwan.

Apple's operating expenses have been impacted by unexpected demand for its products, as well as rising costs for memory storage. The company has raised prices on its hardware by around 20% due to soaring costs for memory storage, driven by the popularity of AI chatbots and platforms.