Apple expected to unveil first folding phone, with new CEO Ternus in command
Apple is widely expected to unveil its first pricey folding iPhone at an upcoming launch event, marking a significant product overhaul and the first major public appearance for new CEO John Ternus. The company aims to overcome engineering challenges like hinge design and water resistance to secure a 40% share of the lucrative niche by next year, despite a potential price tag over $2,000.
Why it matters
Apple's entry into the folding phone market could legitimize the category, drive innovation, and significantly impact the smartphone industry's future design and pricing trends, especially with a new CEO at the helm.
CUPERTINO, California, Sept 9 (Reuters) - Apple is widely expected to unveil a pricey folding iPhone at a launch event on Wednesday at its Cupertino, California, headquarters.
The event, the first with new CEO John Ternus at the helm, will be the most noticeable overhaul of Apple's flagship product since it removed the physical home button from the iPhone X in 2017. The iPhone brought in $209.6 billion, or just over half of Apple's sales, in its most recent fiscal year.
The keynote address will also be the first extended commentary from Ternus, who previously served as Apple's hardware chief but has kept a low public profile aside from a handful of product introductions and sustainability initiatives. It will fall to Ternus to persuade Apple's customers that they need a foldable device that could cost more than $2,000, a new high for a global brand that has defined mass luxury.
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