Apple (NASDAQ: AAPL) has introduced the iPhone Duo, its first foldable smartphone, featuring a 7.6-inch inner display and a 5.4-inch outer display. The device is set to begin pre-orders on Friday, Oct. 16, with availability starting Friday, Oct. 23, in more than 70 countries and regions.

The iPhone Duo starts at $1,999 and is available in 256GB, 512GB, 1TB, and 2TB storage options. Monthly financing is available at $83.29 per month over 24 months through Apple Card, and a leasing option through Klarna starts at $57.99 per month for a 24-month term.

The device is powered by the A20 Pro chip, which Apple says delivers up to 35 percent better sustained performance than the iPhone 17 Pro. It features a dual-battery architecture, offering up to 31 hours of video playback on the inner display and up to 44 hours on the outer display.

The iPhone Duo includes a 48MP main camera, a 48MP ultra-wide camera, and an under-display FaceTime camera. It supports 4K120 fps video recording in Dolby Vision and introduces several camera features tied to its folding design, including a selfie preview mode on the outer display.

The phone runs iOS 27, which Apple says has been redesigned to adapt to both display configurations, including a new Split View multitasking feature that allows two apps to run side by side. It also includes access to Apple Intelligence and a beta version of Siri AI, which is rolling out in English initially.

"iPhone Duo is the most transformational change to iPhone since the original," said John Ternus, Apple's CEO.

The device carries an IP68 water resistance rating and uses grade 5 titanium in its construction. It is eSIM-only and supports Wi-Fi 7, Bluetooth 6, and Apple's C2 cellular modem. Two accessories — a folio case at $129 and a standard case at $79 — will also be available starting Oct. 16.