A $2,000 Foldable iPhone? Here’s What Could Be Announced At Apple’s Launch Event Today

Key Facts

Preorders will begin for Apple’s new iPhone 18 Pro on Saturday, which will start at $1,199 for the Pro model and $1,299 for the larger Pro Max model.

Ternus is also expected to debut the foldable iPhone, which Bloomberg reported will be called the iPhone Duo, at the event—its first major update to the physical structure of the iPhone since the company removed the circular home button starting with the iPhone X in 2017.

The new device will reportedly cost around $2,000, according to multiple reports.

Apple’s stock price slightly fluctuated on Wednesday morning after markets opened, but the tech company’s share price is up over 16.8% year-to-date.

Apple has already raised prices on products multiple times this year, including MacBook laptops in March and June, and Cook previously told the Wall Street Journal further price hikes were “unavoidable” due to skyrocketing prices for memory chips, which the former CEO called a “hundred-year flood.”

What to Watch For

Viewers can watch the event live at Apple’s website or through the Apple TV app. Apple is usually secretive about its products before launch events. In a memo sent to employees last week obtained by Bloomberg, Ternus said very little about the upcoming showcase, other than the fact he was “excited” about the company’s new products. “We have a huge launch next week that’s going to be phenomenal. Thanks for everything you’ve all done to make it possible,” the new CEO wrote.

Key Background

Ternus, Apple’s former senior vice president for hardware engineering, officially took over for Cook last week. Cook’s tenure as CEO was much quieter than his predecessor Steve Jobs, but he managed to turn Apple into one of the most valuable companies in the world. Apple’s share price has risen over 2,000% since he took over in 2011. The company managed to ship over 3.1 billion iPhones since 2011, according to analysis by the Financial Times, and sales for the device now account for half of Apple’s revenue.

Further Reading

ForbesApple Executive John Ternus Will Replace Tim Cook As CEOBy Antonio Pequeño IVForbesApple Will Increase Prices, Cook Says, But Timeline Still UnclearBy Zachary Folk