Apple launched its first foldable smartphone, the iPhone Duo, at $1,999 in the United States and 15,999 yuan in China, alongside the iPhone 18 Pro and iPhone 18 Pro Max. Hon Hai Chairman Young Liu accompanied rotating CEO Chiang Chi-heng to Apple Park to support newly appointed Apple CEO John Ternus at his first product launch, signaling the strength of the companies’ partnership. Taiwan’s TAIEX fell more than 600 points intraday to 46,573.47 before bargain hunting narrowed the decline to 46,845.98 around 11:30 a.m. Investors questioned whether the Duo’s premium price, which reaches $3,199 for the highest-storage model, can attract buyers beyond wealthy early adopters. In China, the device is priced above Xiaomi’s new 18 Fold and below Huawei’s premium Mate XT2 trifold. Bank of America Securities cut its Apple price target to $370 from $380 while retaining a Buy rating, citing lower average selling prices and margin pressure despite higher shipment forecasts. TD Cowen kept a $400 target and Rosenblatt maintained a Neutral rating with a $303 target. Hon Hai supplies the Duo, iPhone 18 series, MacBook laptops, Mac mini and high-end AI servers, while Taiwanese hinge and flexible printed circuit board suppliers are positioned for potential orders. Fubon Securities estimates foldable iPhones will represent 8% of iPhone 18 series shipments this year, although IDC expects foldables to remain below 3% of the global smartphone market in 2026 and 2027.