Apple tipped to launch foldable iPhone at annual event

Apple is expected to unveil a foldable iPhone at its annual product launch event on Wednesday evening Swedish time, marking a major product update for the world's second most valuable listed company. The device comes as new CEO John Ternus makes his first major public appearance, facing the challenge of expanding the niche foldable market while justifying rising prices. The previous iPhone 17 costs between $799 and $1,999 in the US, with increases linked to a memory chip shortage affecting many companies. Competitors like Samsung and Google have offered foldable phones for years, and analysts note the segment remains small. Apple's stock has risen about 16 percent this year, and the market is closely watching the event.