Author | Bishan

Source | Bowang Finance

At 8 PM on October 16th, Apple unveiled its first foldable smartphone, the iPhone Duo, for pre-orders. Within minutes, the surge in traffic caused Apple's official website and app to crash, and the initial batch of stock at official flagship stores across various e-commerce platforms sold out instantly. An Apple store employee recounted that in previous years, they could access the official website within ten minutes of the sale starting to assist customers in securing new products. This time, they waited nearly half an hour—the influx of visitors was so immense that the website stalled. By noon the next day, the shipping date for orders placed on the official website had been pushed back to January 25th, 2027, a wait of over three months.

Meanwhile, a contrasting scenario unfolded. Data from Weibo Zhisou revealed that around 70% of netizens voiced complaints about the "exorbitant price hikes." In a poll of 1,480 participants, 995 indicated that the new phone was "not relevant to them," accounting for approximately 70%. Additionally, 25% of netizens directed their criticism towards the stripped-down configurations, arguing that the hardware did not justify the starting price of 15,999 yuan. On platforms like Dewu and Xianyu, the first batch of devices saw price markups ranging from 2,500 to 6,000 yuan, with the most extreme case being the 1TB version, which was priced 7,143 yuan above the retail price—a figure that even soared to 58,000 yuan during the early pre-sale phase.

The simultaneous surge in complaints and buying frenzy is not a new phenomenon for the iPhone. Slow fast-charging, weak signal strength, delayed AI features, and foldable screens lagging behind domestic brands—the "list of shortcomings" associated with the iPhone has grown over the years. Yet, with each new iPhone release, servers still crash, and resellers still inflate prices. The harsher the criticism, the hotter the sales—this seemingly paradoxical cycle poses one of the most intriguing questions in the consumer electronics industry.

01 Origins of Criticism: The "List of Shortcomings" Holds Weight

First, we must acknowledge that the criticism is not baseless.

In terms of hardware specifications, the iPhone has indeed been outpaced by domestic smartphones in several aspects in recent years. Fast-charging capabilities: Domestic flagships commonly exceed 100 watts, while Apple hovers around 30 watts. Imaging hardware: One-inch sensors and periscope telephoto lenses have become standard in domestic flagships, whereas Apple's sensor sizes remain conservative. Signal performance: Apple's self-developed baseband has yet to fully replace Qualcomm's solution, resulting in noticeable gaps in user experience in subways and elevators—a common source of daily grievances. AI features: Domestic smartphones have rapidly advanced voice assistants, AI photo editing, and on-device large models, while Apple's Apple Intelligence has significantly lagged in its rollout in the Chinese market.

The foldable screen is a prime example. Huawei, Samsung, Honor, and Xiaomi have been iterating on their foldable screens for five to six years, with hinges, creases, and weight control reaching their third or fourth generations. The iPhone Duo, however, marks Apple's first-generation foldable product. Even Apple's official customer service cautions that repairing a single screen on the first-gen foldable costs nearly 7,900 yuan—equivalent to half the phone's price—and that "the product's craftsmanship has not yet been validated by large-scale market testing." In contrast, domestic foldable screens are more mature and cost-effective—this is the most compelling evidence in the criticism.

Thus, the question is not whether the criticism is justified but rather: If it is, why can't it halt the buying frenzy?

02 Why It Sells Like Hotcakes: A Calculation Users Make Clearly

The first layer of the answer lies in the cost of upgrading. A user who has relied on an iPhone for five years has photos stored in iCloud, an Apple Watch, AirPods, and possibly an iPad and Mac at home. Switching from an iPhone isn't merely changing a phone—it's dismantling an entire digital ecosystem. The inconvenience of migration, data loss, and habit rebuilding translates to significant hidden costs. The fast-charging capability lost on a spec sheet is far from sufficient to justify this transition.

The second layer is residual value. In the second-hand market, the iPhone commands the highest resale value among smartphones by a wide margin. A two-year-old iPhone often retains over half its value, while most Android flagships released in the same year have depreciated by half. For cost-conscious users, a high price doesn't necessarily equate to a loss—the true cost is the purchase price minus the resale price, and the iPhone's true usage cost is consistently lower than its sticker price. The reseller market for the Duo is essentially an extreme manifestation of this residual value logic: Securing one means profit, so naturally, everyone becomes a reseller.

The third layer is the limited options in the high-end market. In the price segment above 8,000 yuan, consumers seek more than just specs—they desire brand prestige, system reliability, after-sales network density, and a psychological "safety net" of "not going wrong." Domestic smartphones have excelled below 6,000 yuan, but in the ultra-high-end market, truly comparable alternatives to Apple remain scarce. The individuals criticizing the iPhone and those purchasing it are often not the same group—the former vote with spec sheets, the latter at the checkout counter.

Another often-overlooked factor is Apple's pricing strategy. The starting price of 15,999 yuan may seem exorbitant, but it positions the Duo as a "tech luxury good" rather than a mere "electronic product." In the luxury realm, criticism—especially regarding price—is part of the hype and scarcity. The fact that 70% of netizens complain about the price hike only underscores that the product is at the forefront of public discourse—and for early adopters, that's precisely what they seek to purchase.

03 The Underestimated Other Half: First Sales as a Business Strategy

Another dimension often overlooked is that Apple's first-sale mechanism acts as an amplifier.

The official website crashing on pre-sale night and shipping dates being pushed back by three months naturally generate news. It signals "supply cannot meet demand," which in turn prompts hesitant consumers to place orders—if they don't act now, they'll have to wait even longer. Apple customer service denied intentional supply control, attributing the order backlog to the buying frenzy and suggesting that production ramp-up could lead to earlier shipments. Whether intentional or not, objectively, "queuing" is Apple's most effective advertisement: It transforms a product launch into a weeks-long public conversation.

Resellers' involvement pushes this spectacle to its zenith. From a 58,000 yuan markup to a 7,143 yuan markup, the decline in reseller prices mirrors the cooling of the first-sale hype. For Apple, resellers are free atmosphere creators—every time reseller prices trend on hot search, the perception that "this phone is in high demand" solidifies. This is why Apple customer service's advice against buying from resellers sounds more like risk disclosure than sales guidance: Apple doesn't need to endorse resellers; resellers already endorse it for free.

04 But This Time, Some Data Warrant Apple's Caution

However, interpreting this pre-sale frenzy as "Apple remains unbeatable" would be an oversimplification. Several details suggest otherwise.

First, the rapid collapse of price premiums. In the early pre-sale phase, some merchants marked up the 1TB version to 79,999 yuan—a 58,000 yuan premium. Just days later, the maximum premium shrank to 7,143 yuan, a nearly 90% drop. As shipping delays extended beyond three months, canceled orders increased, and the second-hand market cooled rapidly. Reseller prices are the most honest indicator of market sentiment—they suggest that true demand is far less exaggerated than the first-sale night spectacle, with speculative demand outpacing actual usage demand.

Second, the cold data in the poll. Out of 1,480 participants, 995 stated they wouldn't buy it—a figure that contrasts intriguingly with the official website's frenzy. It hints that while the iPhone's core user base remains solid, interest is waning outside it. For a brand shipping hundreds of millions of units annually, retaining existing users and winning new ones are two distinct challenges. Apple still excels at the former, but pressure is mounting on the latter.

Third, the real competition from domestic foldable screens. The option to "just buy a Huawei instead" in 70% of netizens' complaints would have been unthinkable five years ago. Domestic brands' generational advantages in foldable screens, price competitiveness, and localized AI feature speed are transforming "criticizing the iPhone" from emotional venting into a consumption decision backed by alternatives. When criticism has an outlet, that's the most dangerous signal.

When Apple customer service advised users against buying from resellers, the same logic applies to Apple itself: The first-gen product's craftsmanship hasn't been validated by large-scale market testing. This refers to the Duo's hinges and screens, but it could just as well describe Apple's position in the foldable category—it's still the one defining the industry, but this time, it's entering as a challenger.

In fact, looking back at history, "buying amid criticism" has practically been the iPhone's default setting. From Antennagate to removing the headphone jack, from the notch to the years-long 60Hz refresh rate, every iPhone launch has been accompanied by "Apple has lost its innovation" doomsaying—yet every generation sets new sales records amid the criticism. This cycle has repeated for over a decade, to the point where criticism itself has become part of Apple's launch events—it proves not that Apple is failing, but that the company remains the one under the industry's microscope. The real danger has never been criticism but indifference.

Conclusion

The iPhone's ability to sell like hotcakes amid criticism ultimately stems from a misalignment between two evaluation systems: Critics judge by spec sheets, while buyers judge by balance sheets. Ecosystem lock-in, residual value advantages, and limited high-end options collectively form Apple's moat in the Chinese market—a moat that remains formidable.

But the waters are quietly changing. The premium collapsed from 58,000 yuan to 7,143 yuan in just a week; 70% said "not relevant to them" in the poll; domestic foldable screens have reached their third or fourth generations. Whether criticism can truly become a turning point for sales depends on whether domestic brands can translate their spec advantages into ecosystem, residual value, and brand trust—that's Apple's true defense.

Until then, the "buy amid criticism" spectacle will likely continue for several more generations.