Apple to launch next iPhone on Sept 9

Apple is scheduled to unveil its latest iPhone series and possibly a foldable phone on September 9, according to recent reports. This event will be the debut of John Ternus, the new CEO, who takes over from Tim Cook on September 1. Ternus, who has been Apple's hardware chief for years, is expected to make this his first significant event with the company.

The upcoming foldable iPhone is anticipated to be a major milestone for Apple, as high-end foldable devices are expected to drive higher prices and improved margins for the company. Samsung currently leads the foldable smartphone market, but Apple's entry could disrupt this trend, especially as the market is projected to see a significant growth trajectory in the coming years.

Analysts predict Apple could sell more than 17 million foldable iPhones by 2027, which would be a significant boost for the company. This is also expected to aid in driving growth, with the market for foldable phones anticipated to grow by 12.6% in 2023 alone. In contrast, global smartphone shipments are expected to decline by a record 16.7% this year.

The launch of the foldable iPhone follows Apple's recent price increases for its Mac and iPad lines to offset rising costs. Despite supply chain shortages causing delays and higher prices, Apple has remained optimistic about its prospects. In its latest launch event, Apple introduced a slimmer iPhone Air and updated the base models of the iPhone 17 with several enhancements, contributing to a strong upgrade cycle among consumers.