Apple expected to announce the biggest iPhone update in its history, as new CEO John Ternus prepares launch of foldable device

Cupertino, California—Nearly two decades ago, Steve Jobs revolutionized the consumer hardware industry with the iPhone, catapulting Apple to unparalleled heights. Although few product launches can match that milestone, Apple is poised to host one of its most anticipated events in recent memory when it unveils its latest hardware, expected to feature a foldable phone.

At the Steve Jobs theater on Apple's campus, the company is anticipated to unveil the foldable alongside its iPhone 18 Pro models, Apple Watch Series 12, AirPods 5, and potential updates to its MacBook and home products. Additionally, the event may provide more insights into Siri AI, its advanced assistant that users have been testing in beta mode, partly leveraging Google's technology.

This will be Apple's first major event led by new CEO John Ternus, who assumed the position on September 1. With concerns about Apple's business momentum, its AI strategy, and challenges like the memory chip shortage, this product launch is expected to be closely watched in years to come. The foldable, in particular, could propel Apple into a new era by introducing a novel form factor after years of iterating on its original iPhone.

Priced around $2,000 for the base model, the phone would enable Apple to compete in a market dominated by Samsung, thereby providing Ternus with a striking product to showcase as he embarks on his leadership journey. Analyst Michael Gartenberg noted that Apple's recent events have been repetitive, but this event could offer something distinctly new to consumers and analysts alike.

While the expected high price may restrict potential buyers, it will be competitive with competing products such as Samsung's Galaxy Z Fold8, which starts at $1,899.99, and the upgraded Galaxy Z Fold8 Ultra, starting at $2,099.99. Apple will continue to produce its traditional bar-style iPhone design; however, the iPhone 18, its entry-level model, is slated for release in Spring 2027, marking a deviation from the company's usual product rollout pattern.

The split launch may support pricing strategies and average selling prices but could pose risks for price-sensitive consumers who may postpone upgrades until the lower-priced models become available. Apple, like many other companies, has raised prices recently due to a memory chip shortage resulting from intense demand for AI computing resources.

The company's price hikes ranged from 15% to 33% across its Mac, iPad, and home device lines, alongside a $2 increase in monthly subscriptions, a move termed by former CEO Tim Cook as a "100-year-flood" event. In July, Apple issued a disappointing revenue forecast for its fiscal fourth quarter due to supply-chain constraints. Investors are also scrutinizing the company's progress in AI, especially with the new Siri AI set to roll out in the fall.

This AI is expected to understand data across apps, answer questions based on what is on users' screens, and function autonomously within apps. Ternus, who took over as CEO, has expressed excitement about the upcoming products and the innovations yet to be conceived. Having served as a product-engineer savant at Apple for decades, Ternus is known for his encyclopedic knowledge of Apple product details and is widely regarded as a crucial figure in building many of Apple's successful hardware products.

As Apple seeks to regain its innovative edge in AI, Ternus is expected to revive the company's innovation and design capabilities, potentially differing from Cook's approach by focusing more on product engineering.