Apple CEO John Ternus faces first test with foldable iPhone launch

New Apple CEO John Ternus will face his first major test on Wednesday as the company is expected to unveil a long-rumored foldable iPhone, its first potential breakout product in a decade. The event marks his first major hardware launch since taking over from Tim Cook on September 1. The foldable iPhone, reportedly called the iPhone Ultra and priced at $2,000, will feature a smaller external display that unfolds into a tablet-sized screen, combining portability with a larger display. Apple has not launched a breakout hit since the AirPods 10 years ago, and the device could capture 31 percent of the foldable market by year's end, according to IDC. The launch comes amid an AI-driven supply chain crunch that has pushed smartphone prices up over 27 percent while shipments decline. Apple may also skip a base iPhone 18 model this year, focusing on higher-end versions, and integrate an AI-powered Siri across new devices like watches, AirPods, and a smart home hub.