Apple's foldable iPhone launch marks John Ternus's first major test as CEO

Apple is set to unveil its first foldable iPhone on Wednesday, marking the first major product launch under new CEO John Ternus, who took over from Tim Cook on September 1. The device, expected to start around $2,000, combines smartphone portability with a tablet-like expansive display. The event in Cupertino, California, will also feature AI-powered Siri upgrades and possibly new iPhone 18 Pro models, with the standard iPhone 18 potentially delayed. Ternus, who joined Apple in 2001, faces a test of the company's ability to generate a breakout hit after years without a major new category. Foldables currently represent under 2% of global smartphone shipments, but IDC estimates Apple could capture 31% of foldable demand by year-end, rising to 40% by 2027. The launch comes amid industry-wide supply-chain constraints and a projected 16% decline in global smartphone shipments this year.