Apple launched its first foldable phone, the iPhone Duo, in China at 15,999 yuan, facing skepticism from consumers who view it as expensive compared to established domestic competitors like Huawei, Xiaomi, and Vivo. The device enters a mature foldable market where Samsung leads globally with 32% market share, while Chinese rivals have already released competing models at comparable or lower prices.
Samsung is intensifying efforts to attract iPhone users to its foldable phones as Apple enters the market with its first foldable iPhone. The company reports higher switcher rates for its Galaxy Z Fold8 and Flip8 models and has upgraded its Smart Switch feature to simplify data transfer from iPhones. Samsung currently leads the global foldable market with an expected 32% share, but Apple is projected to capture 25% as competition intensifies.
U.S. and Iran escalate military conflict with strikes on oil tankers and sanctions on airlines, pushing crude prices toward $100 per barrel and threatening global energy supplies. Meanwhile, Canada imposes retaliatory tariffs on U.S. goods, and tech companies Qualcomm and Corning announce major AI infrastructure partnerships that lift semiconductor stocks.