On September 9 in Cupertino, Apple steps into a market it long watched from the sidelines, unveiling a foldable iPhone under a new chief executive who has spent a quarter-century building the very machines he now must sell to the world. John Ternus, an engineer by instinct and formation, inherits a company that has not reshaped a product category since AirPods, and his opening act is a $2,000 device that asks consumers to believe Apple can do what Samsung has been attempting since 2019. The moment is less about a single phone than about whether a great institution can still surprise the world
Apple's New CEO Faces Baptism by Fire With Foldable iPhone Launch
Apple's entry could reshape the entire category.
Mark
So this is Ternus's first big moment as CEO. What exactly is he walking into?
Mimi
A foldable iPhone launch—a product Apple has been rumored to make for years but never did. It's priced at $2,000, same as Samsung's competing model. The market for foldables is tiny right now, less than two percent of all smartphone sales, but IDC thinks Apple could grab nearly a third of it by year-end.
Luke
Wait—if the market is that small, why does it matter so much for Ternus's first event?
Mimi
Because Apple's entry could reshape the entire category. When Apple moves into a new form factor, it tends to drive adoption. And there's a bigger context: the company hasn't had a real breakout hit since AirPods ten years ago. This is a chance to prove it still can.
Mark
What about the supply chain issues everyone's talking about? Doesn't that complicate things?
Mimi
It does. Memory chip shortages are pushing prices up across the industry—smartphone costs are jumping 27 percent this year. But foldables operate in the premium segment where margins can absorb that. Still, it's a headwind.
Luke
One thing I want to flag: the reporting says Apple "is expected" to unveil the foldable, but we don't have confirmation from Apple itself, right? This is all based on rumors and analyst projections.
Mimi
Correct. The $2,000 price, the name "iPhone Ultra," the passport-sized form factor—all of that comes from reports and leaks, not official announcement.
Mark
And Ternus himself—he's been at Apple since 2001, so he knows the company inside out.
Mimi
Exactly. He built the engineering teams behind the iPhone. He's not an outsider trying to learn the business. But there's a difference between knowing how a company works and leading it through a major product launch under scrutiny.
Luke
The other thing worth noting: they might not even be launching an entry-level iPhone this year. Reports suggest only the Pro and Pro Max models. That would be a first for Apple.
Mimi
Right. That's a significant departure from their usual strategy of offering phones at different price points.
Mark
So what happens if the foldable flops?
Luke
That's the question nobody's asking yet, but it's the one that matters most for Ternus's credibility.
Le Pouls
- Apple's first foldable iPhone arrives not as a quiet experiment but as a $2,000 declaration that the company is ready to contest a premium market Samsung has owned for seven years.
- New CEO John Ternus faces an immediate credibility test: launching a breakout product on his very first day in the public eye after replacing the decade-long tenure of Tim Cook.
- An AI-driven memory chip shortage is squeezing the entire smartphone industry, pushing costs up 27% and shrinking shipments — foldables are insulated by their luxury pricing, but the pressure is real.
- IDC projects Apple could claim 31% of the foldable market by year-end and 40% by 2027, a trajectory that analysts say would fundamentally redraw competitive lines in China and beyond.
- The event also signals an unusual gap in Apple's lineup — no entry-level iPhone is expected, a departure from the tiered strategy that has long kept the brand accessible across income levels.
On September 9 in Cupertino, Apple steps into a market it long watched from the sidelines, unveiling a foldable iPhone under a new chief executive who has spent a quarter-century building the very machines he now must sell to the world. John Ternus, an engineer by instinct and formation, inherits a company that has not reshaped a product category since AirPods, and his opening act is a $2,000 device that asks consumers to believe Apple can do what Samsung has been attempting since 2019. The moment is less about a single phone than about whether a great institution can still surprise the world — and whether the person now leading it is ready to make that case.
Apple's annual September hardware event arrived this year carrying more weight than usual. In Cupertino on September 9, the company introduced its first foldable iPhone — a product it had resisted building while Samsung, Google, and others moved ahead — and it did so under a new chief executive taking the stage for the first time.
John Ternus, 51, became Apple's CEO on September 1, succeeding Tim Cook after more than a decade. He is not an outsider: he joined Apple in 2001 and spent 25 years shaping the engineering teams behind nearly every product the company makes. But familiarity with a company and leading it through a defining launch are different things, and the foldable iPhone — expected to carry the name iPhone Ultra and a $2,000 price tag — is precisely that kind of moment.
The device follows the form Samsung pioneered: a compact exterior screen that unfolds into a tablet-sized display, roughly passport-sized when closed. Apple's version includes a standard and ultra-wide camera, a more restrained setup than some of its flagship lines. The price matches Samsung's Galaxy Z Fold directly, placing the two companies in open competition for a segment that still represents less than two percent of global smartphone shipments — but one that Apple's entry could transform.
The timing is complicated. The AI boom has created a severe memory chip shortage, pushing smartphone costs up roughly 27 percent industry-wide while shipments are expected to fall more than 16 percent this year. Foldables, already priced for the premium tier, are somewhat cushioned from these pressures, but no manufacturer is fully insulated.
What gives the launch its broader significance is the market projection behind it. IDC estimates Apple could capture 31 percent of foldable demand by year-end, rising to 40 percent by 2027 — a shift one analyst described as likely to redraw competitive dynamics in China and globally. Apple has not produced a genuinely category-defining product since AirPods nearly a decade ago, and the foldable iPhone is the clearest opportunity it has had since to prove that capacity still exists.
The event will also bring updated AirPods, Apple Watch models, a refreshed Apple TV, and an AI-enhanced Siri across multiple devices. Notably absent is an entry-level iPhone — Apple appears to be releasing only the Pro and Pro Max this cycle, with a more affordable model potentially pushed to 2027, an unusual departure from its traditional tiered approach.
When Ternus addressed employees ahead of the event, he called it phenomenal — a word chosen carefully for an opening act that will say something lasting about both the product and the person now responsible for it.
Apple is holding its annual hardware showcase on September 9 in Cupertino, California, and this year the event carries unusual weight. The company will introduce a foldable iPhone—a device it has resisted making for years while competitors moved ahead—and it will do so under new leadership. John Ternus, 51, became Apple's chief executive on September 1, replacing Tim Cook after more than a decade in the role. Ternus promised the event would be "phenomenal" in his first message to employees, a carefully chosen word for what amounts to his opening act as the company's leader.
Ternus is not an outsider. He joined Apple's design organization in 2001 and spent the next quarter-century building the engineering infrastructure behind nearly every product the company makes. He knows the iPhone intimately—he helped build the teams that created the devices generating the bulk of Apple's revenue. But knowing a company and leading it through a major product launch are different things. The foldable iPhone, expected to be called the iPhone Ultra and priced at $2,000, represents Apple's attempt to capture a market segment that Samsung has owned since 2019, when it released the Galaxy Fold. Samsung's updated model, the Galaxy Z Fold, launched last year at the same $2,000 price point. The foldable category remains tiny—less than two percent of global smartphone shipments—but Apple's entry could reshape that landscape entirely.
The device itself follows the template Samsung established: a smaller screen on the outside, a much larger display that unfolds to reveal what is essentially a tablet-sized workspace. When closed, it will be roughly passport-sized, according to reporting on the design. This format solves a real problem for users who want a larger screen without carrying a separate tablet. Apple's version will include two camera lenses—a standard and an ultra-wide—a relatively modest setup compared to some of its other flagship phones.
The timing is complicated by forces beyond Apple's control. The artificial intelligence boom has created a severe shortage of memory chips, pushing prices higher across the entire industry. Smartphone shipments are expected to decline more than 16 percent this year while average costs jump 27 percent. Foldable phones, already expensive, are somewhat insulated from these pressures simply because they operate in the premium segment where margins can absorb cost increases. Still, the supply crunch is real and affects every manufacturer.
What makes this launch particularly significant is what it might mean for the broader market. Research firm IDC projects that Apple could capture 31 percent of foldable phone demand by the end of this year, climbing to 40 percent by 2027. An IDC analyst told AFP that Apple's entry "is very likely to shift the competitive dynamics both in China and global markets." That is not hyperbole. Apple's ability to drive adoption of new form factors has historically been decisive. The company has not launched what could be called a breakout hit since AirPods a decade ago—a long drought for a company that once defined entire product categories.
The event will also introduce updated versions of existing products. An improved Siri powered by artificial intelligence will appear across multiple devices, including new watches, AirPods, an Apple TV box, and the HomePod mini. The company is also reportedly developing a seven-inch smart home hub, though it remains unclear whether that device will be unveiled on September 9 or held for a later announcement.
One notable absence from the expected lineup is an entry-level iPhone. Reports suggest Apple may only release two higher-end models this year—the iPhone 18 Pro and Pro Max—with a more affordable base model potentially delayed until 2027. This would be unusual for Apple, which has typically maintained a tiered pricing structure to reach different segments of the market.
When Ternus takes the stage at 10 a.m. Pacific time on September 9, he will be introducing a product that could define his tenure as CEO. The foldable iPhone is not merely a new device; it is a test of whether Apple can still move markets, whether it can execute at scale in a category where competitors have already established themselves, and whether Ternus can command the company through a transition that matters. The next few hours will tell us something important about all three.
Citations marquantes
Apple's foldable iPhone is very likely to shift the competitive dynamics both in China and global markets.— Kiranjeet Kaur, IDC research associate
Ternus promised the event would be phenomenal in his first message to employees as CEO.— John Ternus, Apple CEO
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