CEO John Ternus Confirms Supply Shortage for £1,999 iPhone Duo
- Apple's foldable iPhone Duo sold out shortly after its October launch.
- CEO John Ternus confirmed the device is currently supply-constrained.
- The company is offering replacements for a small number of cracked screens.
- Apple reported a 47.9% gross margin for the fiscal fourth quarter.
- Rising memory costs are forcing price increases on other Apple hardware.
Apple’s new foldable iPhone Duo, priced at $1,999 (F1) or £1,999 in the United Kingdom (F7), remains unavailable to customers following a rapid sell-out of the device shortly after its release in October 2026. The company has not provided a specific timeline for when additional units will be available for purchase. Global Banking and Finance reported that Apple is currently unable to meet the demand for the handset.
This supply deficit follows a recent security update on 27 October 2026, when Apple released a backported fix for a CoreGraphics vulnerability affecting older iPad and iPhone models. CEO John Ternus confirmed the situation, stating, "Duo is constrained as of today" and "at this point, we're not able to predict when supply and demand will be in balance".
John Ternus addresses consumer reaction and device constraints
John Ternus, who became chief executive of Apple in September 2026, said he was "thrilled" with the early consumer reaction to the iPhone Duo.
The iPhone Duo sold out online within hours of its launch last month, an event that resulted in lines at Apple stores. Alongside Mr Ternus, the company operates under new chief operating officer Sabih Khan.
Apple offers replacements for cracked iPhone Duo screens
Apple issued a formal response on 30 October 2026 regarding customer reports of broken screens on the new foldable iPhone Duo. Users have reported that the displays on their devices have cracked.
CEO John Ternus said a "very small percentage" of iPhone Duo units have been returned due to these display issues. The company is currently offering replacements for iPhone Duo units that have experienced display issues.
Financial performance exceeds Q4 estimates
Apple reported fiscal fourth-quarter sales of $114.48 billion, exceeding the $113.39 billion estimate provided by analysts. The company achieved a gross margin of 47.9%, which also beat the 47.5% estimate.
The iPhone Duo was not included in these results as the device was not on sale during the fiscal period.
Apple released its earnings report on 2 November 2026, a move that led options traders to anticipate significant market activity. Shares declined following the earnings call held on the same day, despite the company surpassing its financial estimates.
Rising memory costs impact future gross margins
CFO Kevan Parekh stated that the company anticipates memory costs will continue to rise into next year.
To offset these expenses, Apple has raised the price of the iPhone 17 by $100 and increased prices on certain MacBook models. COO Sabih Khan reported that Apple’s purchasing commitments grew by $33 billion during the quarter as the company works with memory suppliers.
New multi-product strategy includes touchscreen MacBooks
CEO John Ternus is launching a multi-product strategy that includes the iPhone Duo, touchscreen MacBooks, and a smart-home hub named HomeView. Apple introduced its first touchscreen laptops and its first smart-home hub during this quarter.
Apple implements new AI usage limits and subscription pricing
Apple intends to increase pricing for iCloud+ subscriptions to help offset costs related to Siri AI, which utilises Google's cloud.
Early shipping dates for iPhone Duo pushed to January
In the United Kingdom, the iPhone Duo is sold for £1,999. The earliest shipping dates currently available for the iPhone Duo are in January.
Early Black Friday promotions for Apple products were reported as being available on 2 November 2026.
Frequently Asked Questions
- iPhone Duo: Apple unsure when more of the foldable devices will be available (bbc.com)
- Apple unsure when more foldable iPhones will be ... (aol.com)
- Apple unsure when more foldable iPhones will be available ... (killerapps.com)
- Apple Earnings Beat Expectations on Strong iPhone 18 Pro Sales (globalbankingandfinance.com)
- Apple posts strong Q4 revenue in first earnings report for new CEO John Ternus - ABC News (abcnews.com)
- Apple (tavily.com)
- Apple (Wikipedia — background) (en.wikipedia.org)
Add NewsPulse Time as a preferred source on Google