Apple's iPhone 18/Duo launch targets Thailand consumers with aggressive pricing (iPhone Duo starts at ฿79,900; iPhone 18 Pro at ฿48,900, +5K vs iPhone 17 Pro). Krungsri Securities identifies direct beneficiaries in tech retailers COM7, SPVI, and CPW, with ADVANC and TRUE positioned to gain through bundled 5G packages. Key risk: higher device prices may dampen replacement cycle demand despite new foldable form factor attraction. Monitor pre-order uptake (Oct 16–23 for Duo; already ongoing for Pro models) to gauge true demand elasticity.