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Apple's first foldable smartphone, the iPhone Duo, officially launched in South Korea on Oct. 23, with preorder stock selling out within one minute on carrier online stores. The cheapest model starts at 3.29 million won, yet KT's online mall saw its first and second preorder batches for the 256GB and 512GB models vanish in 60 seconds, according to Maeil Business and Dong-A Ilbo. SK Telecom, KT, and LG Uplus began activating preorder customers and general sales that day, while supply shortages emerged as a variable after initial stock was quickly exhausted, Kyunghyang Shinmun reports. Korean materials supplier ICH Co. expects a sharp increase in demand for its components after the iPhone Duo drew strong demand at launch, Business Korea reported on Oct. 23.