Apple unveils first foldable iPhone at $2000 with new CEO John Ternus

Apple announced a presentation for its first foldable iPhone, priced at a record $2000, and introduced John Ternus as its new CEO. The event marks a major shift in Apple's product release schedule. Reuters reported the company's plans, which signal significant changes to its annual launch cycle. Ternus previously led Apple's hardware engineering division. Huawei has sold foldable phones since 2019, but they remain a niche product among tech enthusiasts. Apple expects to sell all produced foldable iPhones despite the high cost, capturing 40% of this profitable niche by late next year. Analysts believe Apple's late entry will benefit from solving key engineering challenges, though durability concerns remain.