Apple introduced its inaugural foldable smartphone, the iPhone Duo, on Wednesday, marking the beginning of John Ternus’s tenure as the new CEO. This foldable device represents a significant challenge for Apple, as the tech giant has not seen a groundbreaking success since the launch of AirPods a decade ago. The unveiling event, the first under Ternus’s leadership after taking over from Tim Cook on September 1, showcased Apple’s innovative approach.
Ternus, aged 51, began his journey at Apple in 2001 within the product design team and steadily progressed to overseeing the engineering teams responsible for the entire product range, notably the iPhones that drive a substantial portion of the company’s revenue. The iPhone Duo, resembling a passport when folded, merges the convenience of a smartphone with the expansive display of a tablet, offering users a larger screen without the bulk of a tablet-sized device.
Featuring a complete external display when closed, an enlarged internal display when open, and multiple camera lenses, Apple has addressed a common critique of foldable phones by minimizing the visible crease on the screen. Priced from $1,999, the iPhone Duo is positioned slightly higher than Samsung’s Galaxy Z Fold8.
Additionally, Apple unveiled the iPhone 18 Pro and iPhone 18 Pro Max, priced at $1,199 and $1,299 respectively, representing a $100 increase compared to the previous iPhone 17 series. These models come with enhanced camera capabilities, allowing users to adjust the lens aperture for improved photography.
Notably, Apple omitted the introduction of a base model iPhone 18 during the event, hinting at a potential later launch. Customers in the United States can opt for monthly installment payments through the Apple Upgrade program, in partnership with the buy-now-pay-later service provider Klarna.
Chinese competitors had already unveiled their latest foldable offerings before Apple’s reveal of the Duo. Huawei introduced the Mate XT 2, starting at 19,999 yuan ($2,800), while Xiaomi presented the 18 Fold, starting at 10,999 yuan ($1,540). Samsung, a pioneer in the foldable smartphone market, released the Galaxy Fold in 2019.
Although foldable smartphones account for a small portion of the market, constituting less than 2% of global shipments, Apple is anticipated to capture a substantial share of the demand with its entry into the foldable space, as projected by research firm IDC. The competitive landscape is expected to shift significantly with Apple’s foray into foldable devices, according to IDC research associate Kiranjeet Kaur.
The release of the foldable iPhone coincides with heightened demand for powerful chips driven by the artificial intelligence (AI) surge, leading to supply chain constraints and price escalations across various industries. IDC forecasts a decline of over 16% in smartphone shipments this year, coupled with a notable 27% rise in average costs.
Apple also announced refreshed versions of its entry-level AirPods and smartwatches, with the latter boasting enhanced heart-rate sensors that can sync with an upcoming Health app set to launch later this year. Noteworthy devices that were speculated but not discussed during the event include an updated Apple TV box, HomePod mini speaker, and a smart home hub featuring a 7-inch screen, as previously reported by Bloomberg.
