Apple unveils first foldable iPhone and new CEO John Ternus

Apple enters the foldable smartphone arena approximately seven years after Samsung Electronics introduced its initial foldable device in 2019, according to mk.co.kr. As the company opens its "Surprise and Shine" keynote at the Steve Jobs Theatre in Apple Park in Cupertino, California, on Wednesday, September 9, 2026, the stakes extend far beyond a new hardware silhouette, according to financialexpress.com. The event marks the official executive debut of Chief Executive Officer John Ternus, who assumed the role on September 1, 2026, succeeding Tim Cook after 15 years, as reported by whalesbook.com, stepping into his first major public product reveal while component costs climb and consumer spending remains cautious.

The centerpiece of this hardware expansion is an ultra-premium, book-style device internally dubbed the iPhone Ultra, according to Financialexpress. Market analysts project the device will retail between $2,000 and $2,500, or approximately 2.67 million to 3.34 million KRW, according to mk.co.kr, creating a high financial barrier that tests whether unyielding brand loyalty can overcome steep economic hurdles in a cautious global spending environment, as detailed by whalesbook.com. Coincentral.com notes that investors are also watching pricing and availability alongside concerns about potential delays to some of Apple's artificial intelligence features that could weigh on sentiment around the launch.

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Hardware Architecture and Engineering Trade-Offs

The iPhone Ultra adopts a book-style folding mechanism comparable in layout to the Samsung Galaxy Z Fold series, as noted by financialexpress.com and Mk. When folded, the device is designed to approximate the size of a passport, featuring a compact external cover screen alongside an expansive interior display measuring approximately 7.8 inches, with a folded display size of 5.5 inches, according to Mk. When unfolded, the device measures approximately 4.5 millimeters in thickness, matching the physical profile of competing models like the Samsung Galaxy Z Fold 8, which mk.co.kr reports has enjoyed major success.

Engineering efforts have centered heavily on minimizing the visible display crease, according to financialexpress.com and mk.co.kr. Unlike Samsung's reliance on a titanium backplate to mitigate creasing, Apple has engineered a custom hinge mechanism, as reported by financialexpress.com. Under the hood, the hardware is expected to run on A20 Pro silicon paired with an in-house C2 modem, according to financialexpress.com.

Achieving this ultra-thin profile required distinct component compromises. The device omits Face ID entirely, utilizing Touch ID integration built into the side power button instead, according to financialexpress.com and mk.co.kr. Furthermore, Apple has reportedly restricted the rear imaging array to a dual-camera system featuring standard and ultra-wide sensors for wide-angle and ultra-wide-angle photography, as detailed by financialexpress.com and mk.co.kr.

Financial Pressures and Margin Realities

The decision to enter the foldable category arrives amid rising input expenditures across the supply chain. Whalesbook reports that Apple faces a 10% to 20% increase in memory component costs for its upcoming device lineups, creating direct pressure on profit margins. These elevated expenses underpin analyst projections that the iPhone Ultra will command an unprecedented retail price between $2,000 and $2,500, as supported by mk.co.kr and financialexpress.com.

Model / Component	Reported Specification / Estimate
Foldable Form Factor (iPhone Ultra)	Book-style fold, 7.8-inch unfolded display, 5.5-inch folded display (mk.co.kr)
Physical Thickness (Unfolded)	Approximately 4.5 mm (mk.co.kr)
Estimated Price Range	$2,000 to $2,500 (approx. 2.67M to 3.34M KRW) (mk.co.kr)
Biometrics & Cameras	Touch ID (side button); dual rear cameras (standard and ultra-wide) (financialexpress.com) (mk.co.kr)
Memory Cost Trend	10% to 20% increase across upcoming iPhone 18 series (whalesbook.com)
Market Share Projection	Counterpoint Research forecasts 25% global foldable share in year one (mk.co.kr)

Such pricing transforms the device into a high-stakes gamble on consumer willingness to spend during a cautious global macroeconomic climate, as noted by whalesbook.com. Industry observers point out that initial supply volumes may be strictly constrained due to the intricate assembly requirements of the custom hinge and folding panels, according to mk.co.kr.

Leadership Transition and Market Projections

The executive handover from Tim Cook to John Ternus on September 1, 2026, places a 15-year Apple veteran at the helm during a critical inflection point, according to whalesbook.com. In an internal memo to employees reported by financialexpress.com, Ternus outlined the scope of the upcoming rollout:

"I am so excited about everything we have in store. We have a huge launch next week that’s going to be phenomenal… but I’m just as excited about what lies beyond that."

John Ternus, Chief Executive Officer, via financialexpress.com

Despite entering a category pioneered by Samsung Electronics in 2019, external forecasters project rapid adoption once Apple commits its user base to the form factor, as reported by mk.co.kr. Counterpoint Research estimates that Apple could capture 25% of the global foldable smartphone market within its first year of availability, according to mk.co.kr.

Ecosystem Expansion and Supply Chain Hurdles

According to mk.co.kr, the upcoming presentation at Apple Park also encompasses standard updates to the flagship hardware tiers, bringing forward the iPhone 18 Pro and iPhone 18 Pro Max alongside the foldable device, a lineup also noted by Coincentral. Financialexpress.com notes that these Pro models retain familiar industrial silhouettes while introducing advanced internal engineering, such as enhanced vapour chambers designed to prevent thermal throttling, improved battery efficiency, and a mechanical aperture on the Pro Max model that grants precise control over depth and light.

Financialexpress.com reports that the wider ecosystem update touches nearly every major product category. The Apple Watch Series 12 and Apple Watch Ultra 4 are slated to introduce ceramic cases alongside updated processors built to handle continuous, on-device tasks through a revamped Siri architecture. Audio and home entertainment hardware will see refreshed offerings as well, highlighted by entry-level AirPods 5, chip upgrades for the Apple TV and HomePod mini, and a transition to OLED panels for the iPad mini, as detailed by financialexpress.com.

Market watchers point out that managing these simultaneous hardware rollouts against rising input expenditures will test the operational limits of Apple's supply chain. As whalesbook.com details, memory component expenses have climbed between 10% and 20% across upcoming device lineups, creating immediate pressure on corporate profit margins.

Whether market projections hold depends on concrete data disclosed during the presentation, as emphasized by mk.co.kr, with all eyes fixed on Apple Park to see if corporate leadership officially confirms the anticipated $2,000-plus price floor, final release schedules, and initial production volumes during the September 9 keynote, according to financial news reports from mk.co.kr and whalesbook.com.