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Apple is set to host its next launch event on September 9, where the company is expected to unveil its newest iPhone series and potentially its long-awaited foldable phone. The first foldable iPhone would be a crucial milestone for Apple, with analysts saying the high-end device would be a main driver of higher selling prices and margin growth for the company.
The launch will also mark incoming CEO John Ternus's first major event. Ternus, Apple's longtime hardware chief, is set to take the helm at the company on September 1, as Tim Cook transitions to the role of executive chairman, according to the report. Ternus's appointment, announced in April, was widely regarded as a sign of Apple's renewed push to build on its core strength in devices.
Samsung currently dominates the niche but growing foldable smartphone market, which companies are betting will soon become mainstream despite premium price tags. Foldable phones are expected to be a bright spot for consumer electronics companies that have faced setbacks from a severe shortage of memory and storage chips, which has driven price hikes and dampened overall consumer demand.
Apple has recently lifted prices across its Mac and iPad lineups to offset soaring component costs. The company said in July it was facing "very significant" supply chain shortages and predicted the snags would dampen sales in the current quarter.
Analysts expect Apple to launch a foldable iPhone with a screen similar in size to an iPad mini. Samsung unveiled a new passport-sized foldable phone earlier this year as it seeks to defend its foothold against Apple's expected entry into the category.
Apple is expected to ship more than 17 million foldable iPhones by 2027, according to research firm IDC. IDC predicts a 12.6% jump in foldable phone shipments this year, compared with a record 16.7% decline expected in global smartphone shipments overall.
Last year, at its launch event, Apple unveiled a slimmer iPhone Air and loaded its iPhone 17 base models with several improved features. The iPhone 17 lineup helped drive a strong upgrade cycle among consumers.
The launch will also mark incoming CEO John Ternus's first major event. Ternus, Apple's longtime hardware chief, is set to take the helm at the company on September 1, as Tim Cook transitions to the role of executive chairman, according to the report. Ternus's appointment, announced in April, was widely regarded as a sign of Apple's renewed push to build on its core strength in devices.
Samsung currently dominates the niche but growing foldable smartphone market, which companies are betting will soon become mainstream despite premium price tags. Foldable phones are expected to be a bright spot for consumer electronics companies that have faced setbacks from a severe shortage of memory and storage chips, which has driven price hikes and dampened overall consumer demand.
Apple has recently lifted prices across its Mac and iPad lineups to offset soaring component costs. The company said in July it was facing "very significant" supply chain shortages and predicted the snags would dampen sales in the current quarter.
Analysts expect Apple to launch a foldable iPhone with a screen similar in size to an iPad mini. Samsung unveiled a new passport-sized foldable phone earlier this year as it seeks to defend its foothold against Apple's expected entry into the category.
Apple is expected to ship more than 17 million foldable iPhones by 2027, according to research firm IDC. IDC predicts a 12.6% jump in foldable phone shipments this year, compared with a record 16.7% decline expected in global smartphone shipments overall.
Last year, at its launch event, Apple unveiled a slimmer iPhone Air and loaded its iPhone 17 base models with several improved features. The iPhone 17 lineup helped drive a strong upgrade cycle among consumers.
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