Apple is learnt to have exhausted the first week’s stock of its most expensive iPhone, the iPhone Duo, which is scheduled to go on sale in India on October 23, sources aware of the development said. Apple Stores in BKC (Bandra Kurla Complex), Mumbai, and Saket, New Delhi, have recorded the highest number of pre-bookings for the ultra-premium, first-ever foldable iPhone from the company. "First week stock of iPhone Duo is entirely sold out in India. Apple Stores located in BKC and Saket are very close in terms of booking numbers," sources aware of inventory movement told PTI. This implies that the iPhone Duo will not be available for walk-in purchases at Apple Stores. Pre-orders for the iPhone Duo opened in India on October 16. An emailed query to Apple did not elicit an immediate response. With the Duo, Apple has entered the foldable smartphone category. The device will be priced between Rs 3 lakh and Rs 4.5 lakh in India, putting it in the same price range as some of the country’s top-selling Maruti Suzuki hatchback models. Analysts estimate that the iPhone Duo will capture around 24% of the foldable device market, where it will compete with the Samsung Z Fold 8 series, which is available in India at prices ranging from Rs 1.79 lakh to Rs 2.6 lakh per unit for the 1TB storage variant. Counterpoint Research Director Tarun Pathak said the initial adoption of Duo will be driven by an excellent form factor, the bigger screen value proposition and a great UI experience, which will make loyal Apple users and early adopters of technology go for it, especially those who have been waiting for an Apple foldable form factor for a long time. "Overall, we believe that the iPhone Duo is set to expand India's foldable segment by value rather than volume initially and bring the spotlight on the foldable segment," he said. In its folded state, the iPhone Duo will have a 5.4-inch display, offering 90% of the screen area of the iPhone 18 Pro. When unfolded, it will have a 7.6-inch display, which is 50% larger than that of the iPhone 18 Pro Max. The iPhone 18 Pro has a 6.3-inch display, while the iPhone 18 Pro Max has a 6.9-inch display. Apple has been posting record performance in India. Its revenue in India is estimated to have crossed $10 billion, driven by record iPhone shipments in FY26. In rupee terms, this translates to revenue of nearly Rs 1 lakh crore. According to Counterpoint Research, Apple’s iPhone shipments in FY26 rose to 14 million units, up 24% year-on-year. The iPhone accounts for the majority of Apple’s revenue in India and is also the country’s top-exported smartphone.