Apple's $2,999 foldable iPhone sold out in minutes — and scalpers want four times the price

Apple's first foldable iPhone is proving harder to buy than to fold. Pre-orders for the iPhone Duo opened Friday at 8 a.m. ET in Canada, and the initial allocation cleared almost immediately, with delivery estimates on Apple's store drifting from the Oct. 23 launch window into 2027.

In Canada, the Duo starts at $2,999 for the 256GB model, rising to $3,299 for 512GB, $3,899 for 1TB and $4,799 for 2TB — making it Apple's most expensive consumer device ever, according to iPhone in Canada, which tracked Apple's Canadian store page.

Canadian buyers who missed the opening window are being told to wait until early February 2027, iPhone in Canada reported, while U.S. shoppers saw estimates stretch to Jan. 25, 2027.

The scalper market

The shortage spawned an instant resale market. On eBay, confirmed pre-orders are trading at steep premiums: a 2TB Night Sky model (US$3,199 retail) sold for $4,999.99 US, and base models are going for US$2,700–$3,800, MacDailyNews reported. In Canada, listings have asked as much as $10,000 USD — about $14,160 CAD — for a 512GB unit that retails for $3,299 CAD, a 329% markup, according to iPhone in Canada.

The frenzy played out globally: China's JD.com logged more than two million reservations, and stores in Guangzhou and Shenzhen ran out within minutes, Dim Sum Daily reported.

What the money buys

The Duo unfolds to a 7.6-inch inner display with a 5.4-inch outer screen, both reaching up to 3,000-nit peak brightness with ProMotion. It weighs 254 grams, measures 5.2mm thick when open, carries an IP68 rating, and runs on Apple's A20 Pro chip, per multiple reports.

Apple told outlets including Bloomberg that "demand for iPhone Duo, our first foldable iPhone, has been nothing short of extraordinary," iPhone in Canada reported, without giving sales figures or a restocking timeline.

Apple Stores begin in-person sales on Oct. 23, and Apple says to check back Oct. 24 for pickup availability — a possible second chance for buyers who lost the pre-order sprint.