John Ternus, Apple's new CEO, is expected to present this Wednesday, September 9, the company's first foldable iPhone, priced at over two thousand dollars (approximately 1,700 euros). This launch marks the new leader's first major presentation, succeeding Tim Cook, and represents a project in development for at least eight years in the company's hardware division. Apple expects the device to reignite consumer interest in a smartphone market that has seen declining global sales.
The launch brings major challenges for the company, which faces cost pressures across its entire supply chain, exacerbated by component shortages and the absorption of parts by data centers. Apple will need to convince customers to accept widespread price increases across the entire iPhone lineup, at a time when global smartphone sales are declining. Previously, the company already raised prices on Macs and iPads this year.
Foldable devices represent only about 2% of global smartphone sales, a segment that has slowed since Samsung and Huawei launched their first models in 2019. Samsung faced initial technical problems with screens that formed bubbles, and Huawei even had to delay its launch. Apple followed the company's usual strategy: letting competitors face the problems first before presenting an improved version. A 2011 patent shows the company was already developing hinge mechanisms, and teams were testing foldable technology in 2018.
IDC analysts project that foldables will be the only segment of the smartphone market to grow in 2026, with annual growth of about 12%. Apple should capture a 40% share of that market by 2027, selling at least 10 million units in the first year, according to David Vogt, a UBS analyst. The foldable is expected to perform best in China, where Huawei achieved some success and where Apple has been regaining market share.
