Apple’s upcoming foldable iPhone and new CEO John Ternus face a critical market test at the company’s Cupertino headquarters, where analysts expect a device priced north of $2,000 to challenge competitors like Google and Samsung while debuting a heavily overhauled Siri AI assistant.
John Ternus Debuts as Apple CEO During Folding Phone Launch
When new CEO John Ternus takes the stage at Apple’s Cupertino, California, campus for the “Surprise and Shine” event, he marks the beginning of his tenure replacing outgoing chief executive Tim Cook, according to company reports. Ternus assumed the role on September 1. In an internal note to employees on his first day, Ternus expressed excitement about products already in the works, writing that the company has a huge launch that is going to be phenomenal. Wall Street is watching to see if Ternus can prove that Apple can still deliver breakthrough hardware alongside a competitive AI assistant.
iPhone Fold Pricing and Hardware Specifications
The headline hardware release is a folding iPhone designed to open and close like a passport, doubling its screen size from approximately 5.5 inches when closed to 7.8 inches when open, according to reporting from Bloomberg. While competitors have sold folding phones since the late 2010s—such as the Google Pixel 11 Pro Fold retailing for $1,899—Apple’s model marks a first for the company. Analysts surveyed by Reuters expect the device to cost more than $2,500. Due to the extreme thinness of the folding chassis, the device is not expected to feature Face ID cameras, relying instead on Touch ID, according to industry reports.
Did you know? IDC senior research director Nabila Popal told Reuters that despite the high price tag, the Apple foldable is projected to generate more than $45 billion in revenue by the end of next year, driven by the company’s aura of luxury and exclusivity.
Siri AI Overhaul and Market Competition
Beyond the hardware, Ternus faces pressure to prove Apple’s virtual assistant can compete in the broader artificial intelligence race. According to Reuters, Apple has already initiated a deep overhaul of Siri by tapping Google’s AI technology behind the scenes. Analysts note that a successful revamp could help Apple catch up with Google’s Gemini assistant and OpenAI, which release frequent updates. Creative Strategies analyst Carolina Milanesi told Reuters that delivering a functional, improved Siri is crucial for the company’s market positioning.
Routine Product Updates and Broader Lineup
Alongside the folding iPhone, Apple is expected to announce routine updates including new iPhone 18 Pro and 18 Pro Max models, according to company disclosures. Bloomberg reports that Apple will also unveil new iterations of Apple Watch and AirPods lines, alongside the development of its first-ever touchscreen MacBook. Meanwhile, Reuters reports that Apple may hold off on refreshing the iPhone Air and lower-end budget lines until the spring to keep consumer focus centered on the new folding device.
Frequently Asked Questions
When is Apple’s folding phone expected to launch?
Apple scheduled its product release event, titled “Surprise and Shine,” at its Cupertino campus to unveil its latest lineup.
How much is Apple’s folding iPhone expected to cost?
Analysts expect the folding device to be priced north of $2,000, with some estimates on Wall Street exceeding $2,500, according to Reuters reporting.
Who is the new CEO of Apple?
John Ternus assumed the role of CEO on September 1, succeeding longtime chief executive Tim Cook, according to company statements.
Will the folding iPhone feature facial recognition?
Reports indicate the device will not include Face ID because the folding chassis is too thin to hold the necessary camera, offering Touch ID instead.
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