TMTPOST — Apple’s first foldable phone, the iPhone Duo, went on sale in China on October 23 amid multi-day queues at stores including those in Macau, while secondary-market premiums collapsed from earlier highs. On the resale platform Dewu, the 256GB model (official price 15,999 yuan) most recently traded at 17,998 yuan, a premium of 1,999 yuan. The 512GB version (17,999 yuan) traded at 20,500 yuan, a premium of 2,501 yuan. The starlight-white 1TB model (21,499 yuan) averaged 24,838 yuan, a premium of 3,339 yuan. The peak secondary-market premium of 58,500 yuan has therefore shrunk by more than 55,000 yuan. Pre-orders that opened a week earlier sold out rapidly, with official delivery estimates stretching into late January 2027. Scalpers who had anticipated daily profits of 100,000 yuan saw those margins evaporate as supply expectations improved and buyer willingness to pay steep mark-ups faded.