US carriers have launched iPhone Duo pre-orders with discounts of up to $1,200 off — but still not as much as expected.

With a retail price of $1,999.99, that only covers about half the phone’s price – substantially less than other foldable launches this year. Samsung’s Galaxy Z Fold8 launched this summer for free at multiple carriers. Counterpoint’s launch-week tracking shows how much less carriers are discounting Apple’s first foldable, and what that says about who funds carrier subsidies.

Even with the best deal, Duo buyers pay at least $800, and most top offers require a trade-in, a premium plan, along with a 36-month commitment. Counterpoint notes that Verizon gave every other foldable this year a bigger launch discount than the iPhone Duo. Carrier “free” launch offers manufacturer co-funding, not retail price, as the driver of the largest subsidies, adds the research group.

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