New Apple CEO John Ternus to face first test with foldable iPhone launch

Apple is expected to unveil a slew of new and updated devices, including a long-rumored foldable iPhone, when it holds its annual late-summer hardware event on Wednesday in Cupertino, California.

It will also be the first major event under new chief executive John Ternus, who took over from outgoing CEO Tim Cook on September 1.

Ternus, 51, joined Apple's design team in 2001 and worked his way up to leading the engineering teams behind Apple's entire product lineup, including the iPhones that generate most of the company's revenue.

The event, which Ternus promised would be "phenomenal" in his first company-wide email as CEO last week, will kick off at 10 am local time (1700 GMT).

The tech giant is expected to finally reveal a long-awaited foldable iPhone, currently rumored to be called the iPhone Ultra, which will start at $2,000, according to reports.