Apple's first foldable phone, the iPhone Duo, went on sale across the UAE on Friday, and within hours a brisk resale market had sprung up, with some units changing hands for as much as Dh25,000 — nearly double the official retail price.
The device officially starts at Dh8,499 for the 256GB model and rises to Dh13,599 for the 2TB version. But tight launch-day stock sent street prices soaring, echoing the pattern seen with Samsung's and Huawei's tri-fold phones, which also sold for roughly double their list price when they first launched.
Mohammed Shareef, owner of Extel Mobiles, said he managed to secure only three units on launch day and expects prices to keep climbing as supply remains scarce. "There is a very limited number of devices available on the market," he said.
In Deira, a mobile shop owner who gave his name as Mohammed said he made close to Dh32,000 in profit within the first hour of trading, selling four 256GB units at a markup of about Dh8,000 each. Another trader, who asked not to be named, said he had pre-booked more than 30 devices, sold 14 of them for roughly Dh7,000 profit apiece, and was holding the remaining 10 in anticipation of further price rises.
Buyers are travelling from abroad to secure a unit. Mohammed Salimov, an Uzbek national, bought eight of the 2TB models and said he was willing to pay up to Dh25,000 each.
Apple's supply chain is reportedly stretched thin: customers placing new orders now are being quoted delivery dates as late as January 2027, a wait that resellers expect will keep the grey market for the device active well into next year.