[Edaily Reporter Shin Yeong-bin ] Apple’s first foldable smartphone, the “iPhone Duo,” will officially launch in South Korea on the 23rd. With Apple now fully entering the foldable phone market—which has been led by SamsungElectronics(005930)—the competition between the two companies is entering a new phase.

Apple will begin sales of the iPhone Duo today in major countries including South Korea, the United States, Japan, and China. In South Korea, official activation through the three major mobile carriers will begin at 8 a.m.

The iPhone Duo is Apple’s first foldable smartphone. It unfolds side-to-side like a book; when folded, users can use the 5.4-inch external screen like a regular smartphone, and when unfolded, they can take advantage of the 7.6-inch large display.

It supports the “Split View” feature, which allows users to run two apps side by side to take advantage of the expanded screen. This enables users to watch a video while sending messages or have two web browser windows open simultaneously. It also features a nano-texture layer to minimize screen creases and a precision-engineered hinge.

The price is the highest of any iPhone to date. The domestic manufacturer’s suggested retail price starts at 3.29 million won for the 256GB model, 3.59 million won for the 512GB model, 4.19 million won for the 1TB model, and 5.09 million won for the 2TB model. It comes in two colors: Star White and Night Sky.

Despite the high price, initial demand is intense. After pre-orders began in South Korea at 9:00 p.m. on the 16th, all models on Coupang sold out temporarily in about 30 minutes. On Apple’s official online store, the estimated delivery dates for some models have been pushed back to January of next year.

However, even if you visit a store on the official launch date, it will be difficult to purchase the product immediately. South Korea is among the countries where product supply is prioritized for pre-order customers. While limited in-store sales are available in the U.S. and some European countries, purchases without a pre-order are not possible in South Korea.

SamsungElectronics, the established leader in the foldable phone market, is also reacting positively to Apple’s entry. The company believes that Apple’s market entry could heighten consumer interest in foldable phones and serve as a catalyst for growing the overall market.

SamsungElectronics has been pioneering the foldable phone market since unveiling its first Galaxy Fold in 2019. This year, the company expanded its product lineup by introducing various foldable models, including the Galaxy Z Fold 8. Ahead of Apple’s launch of its iPhone duo, Samsung even promoted the slogan “Welcome to Foldable.”

Market research firm IDC forecasts that global foldable phone shipments this year will reach 22.9 million units, an increase of approximately 13% from last year. The analysis suggests that while the overall smartphone market is contracting, the foldable phone segment will continue to grow, spurred by Apple’s entry.

Counterpoint Research expects SamsungElectronics to capture a 38% share of the global foldable phone market this year, while Apple is projected to hold 25%. The forecast suggests that Apple could rise to second place in the market with just its first product.

Tarun Padak, a director at Counterpoint Research, stated, “Competition in the premium market will certainly intensify with Apple’s entry,” but added, “Since foldables still account for a small share of the overall smartphone market, there is significant room for growth far beyond their current scale.”

SamsungElectronics also expects that increased competition will lead to market growth. Roh Tae-moon, CEO of SamsungElectronics and head of the MX Business Division, said at the Galaxy Unpacked press conference held in London, UK, last July, “More companies will enter this mature market, and we welcome that.”