This event marks the inaugural appearance of John Ternus as the new CEO, succeeding Tim Cook, who stepped down on September 1. Ternus, 51, has been with Apple since 2001, working his way through the design and engineering teams, and he has played a pivotal role in orchestrating the company’s product lineup, particularly the lucrative iPhones.
The event is scheduled to commence at 10 am local time (1700 GMT), with Ternus promising a “phenomenal” presentation. It is expected that Apple will finally unveil its foldable iPhone, rumored to be named the iPhone Ultra, which is anticipated to start at a price point of $2,000. Similar to Samsung’s foldable offerings, the iPhone Ultra is expected to feature a compact external display when closed, along with a large unfolding screen, blending the convenience of a smartphone with the expansive display of a tablet.
Despite foldable smartphones comprising less than 2 percent of global shipments, research from IDC suggests that Apple could capture 31 percent of this niche market by year-end and potentially reach 40 percent by 2027. The introduction of the foldable iPhone is poised to significantly alter competitive dynamics within both the Chinese and global markets, according to IDC research associate Kiranjeet Kaur.
The release of the foldable device coincides with a supply chain crunch driven by increasing demand for powerful chips amidst the AI surge, resulting in a projected 16 percent drop in smartphone shipments and a 27 percent rise in average prices across the industry. Although foldable phones are not exempt from memory supply shortages, their impact may be mitigated due to their higher price range.
This year, it is unclear whether Apple will introduce a new entry-level iPhone. Reports indicate that only two high-end models—iPhone 18 Pro and Pro Max—may be unveiled, while a more budget-friendly iPhone 18 is expected to be announced next year.
Additionally, the foldable Ultra is expected to be passport-sized when closed and will feature only two camera lenses—regular and ultra-wide, as per Bloomberg’s report. An AI-powered enhanced version of Siri is also likely to be integrated into many newly announced devices, which might include updates for watches, AirPods, an Apple TV box, and the HomePod mini. There is speculation regarding the launch of a 7-inch device intended to serve as a smart home hub, although it remains uncertain whether this will be revealed at the upcoming event or later in the year.
