Apple introduced its first-ever foldable iPhone on Wednesday, signaling a bold entry into a smartphone category that has existed since 2018 but remains a niche segment of the market. The announcement was made during the company’s annual products event, titled “Surprise and Shine,” held in Cupertino, California, at 1 p.m. Eastern Time.
The reveal also features the debut of Apple CEO John Ternus, who assumed leadership on September 1 after a 25-year tenure at the tech giant, succeeding former CEO Tim Cook. The new foldable device is priced at $1,999.
In addition to the foldable model, Apple unveiled the iPhone 18 Pro and iPhone 18 Pro Max. According to the company, these latest smartphones offer enhanced camera systems, upgraded memory chips, and improved battery life compared to previous generations. Both models are fully integrated with Apple Intelligence, the firm’s AI capability, which Cook previously described as the “next big step for Apple” when it was introduced in 2024.
Pricing for the standard models begins at $1,199 for the iPhone 18 Pro and $1,299 for the iPhone 18 Pro Max. Pre-orders are scheduled to open on September 12, with general availability in stores beginning September 18.
The launch comes as Apple continues to rely heavily on its smartphone business while expanding its ecosystem, which includes iPads, Apple Watches, and MacBooks. The company, currently the world’s second-largest by market capitalization, has seen its shares rise 22% over the past six months, outperforming the S&P 500’s 13% growth during the same period.
This release follows Apple’s 2024 launch of the Vision Pro mixed-reality headset, which starts at $3,499, and its earlier push into AI-driven features. The company has a history of entering established categories at premium price points, similar to its introduction of the Apple Watch in 2014, which Cook then called a “category-defining product.”
Another foldable, another high price. Samsung did this years ago. Apple is late to the party but maybe they’ll do it right.
Wait, does the foldable support Apple Intelligence fully? That’s the only reason I’d upgrade from my 16 Pro.
John Ternus finally stepping out of Cook’s shadow! Hope this foldable actually feels premium and not flimsy.
$1,999 is steep. I’m waiting for the second generation like I did with the Watch.