New Apple CEO John Ternus faces first test with foldable iPhone launch

Apple will unveil its long-rumored foldable iPhone at its Sept. 9 hardware event, marking the first major test for new CEO John Ternus, who took over from Tim Cook on Sept. 1. The device, reportedly called the iPhone Ultra, starts at US$2,000. The foldable, which combines a smartphone's portability with a tablet-sized unfolding screen, is Apple's first potential breakout hit since AirPods a decade ago. Samsung launched the first mainstream foldable in 2019, and such devices are under 2% of global shipments, though IDC projects Apple could capture 31% of that demand by year-end. The launch comes amid an AI-driven chip supply crunch that has pushed smartphone prices up over 27% while shipments decline over 16% this year. Apple may skip a new entry-level iPhone, possibly unveiling only higher-end models, and will integrate AI-powered Siri across new devices like watches and AirPods.