Apple expected to unveil first folding phone, with new CEO Ternus in command

Apple is on track to unveil its first folding iPhone at a Wednesday launch event in Cupertino, California, marking a significant overhaul since removing the physical home button from the iPhone X in 2017. The event will mark the debut of new CEO John Ternus, who will make his first extended remarks at the keynote address. The iPhone accounted for just over half of Apple's $209.6 billion revenue in its most recent fiscal year.

The keynote will also be Ternus' first major public appearance, following his role as Apple's hardware chief.

Ternus will need to convince customers of the need for a foldable device that could cost more than $2,000, a new high for a global brand. While Samsung and Huawei have sold folding phones since 2019, they haven't garnered widespread adoption. Analysts expect Apple to sell every foldable iPhone it can produce and secure a 40% share of the lucrative niche by the end of next year, despite the steep price tag.

Apple's late entry into the folding phone market could be an advantage, as the company is expected to master key engineering challenges, such as creating an elegant but sturdy hinge that can withstand repeated opening and minimize visible creases. One challenge remains: ensuring the devices resist dust and water. Google's Pixel 10 Pro Fold currently holds the IP68 rating, indicating dust-tightness and water resistance.

Wednesday's event is also anticipated to signal a major shift in Apple's annual product schedule. While new watches are expected, updates to more affordable iPhones may be delayed until spring. The focus will be solely on the new folding device and its iPhone Pro and Pro Max lineup, aiming to smooth out Apple's yearly sales cycle, typically boosted during the year-end holiday quarter in the U.S. and Europe.