Discussions around inflation are common in India, but the frenzy seen over Apple's foldable smartphone iPhone Duo on quick-commerce platform Blinkit has stunned many observers. Within a mere five minutes of the sale going live, the entire inventory was completely sold out. The starting price of this high-end device stands at ₹2,99,90, while its top-end variant stretches up to ₹4,49,900. Despite such an exorbitant price tag, the disappearance of the entire stock within minutes sparked widespread online debate, with people remarking on the abundance of wealth in the country. Globally, the device has witnessed an intense rush, with prices in the black market reportedly soaring to $10,000 in certain regions.
Blinkit Founder Shares Details
Blinkit founder Albinder Dhindsa shared the update through a post on the social media platform X. He stated that the sale for the iPhone Duo went live in the Delhi-NCR region at 8:15 AM on October 23, and by 8:20 AM, every single unit had been purchased. However, the company did not disclose the exact number of units that were stocked for this initial sale. Dhindsa added that efforts are already underway to secure and restock fresh inventory for customers in the coming weeks to meet the surging demand.
Global Markets and Resale Trends
The high-speed sellout was not limited to India alone, as global supplies of the iPhone Duo faced similar depletion. In international markets like Vietnam, the first day of sales saw limited stock and high price points, prompting many customers to opt for installment payment plans. Furthermore, secondary and black markets have witnessed massive markups, with the device being resold at astronomical prices and showing significant price gaps in various regions. Industry watchers note that the tight supply and immense hype surrounding the launch have drawn significant scrutiny toward Apple's distribution strategy.
