Apple is expected to unveil a folding iPhone at a launch event Wednesday at its Cupertino, California, headquarters, with a price tag that could top $2,000. The event marks the first major product launch under new CEO John Ternus and represents the biggest change to Apple’s flagship device since the company removed the physical home button from the iPhone X in 2017.
The iPhone generated $209.6 billion in Apple’s most recent fiscal year, more than half of the company’s total sales. Wednesday’s keynote will also be Ternus’s first extended public address since taking over as CEO. He previously ran Apple’s hardware division and had kept a low public profile outside a handful of product launches and sustainability announcements. He now faces the task of convincing Apple’s customer base to pay a premium price for a foldable device in a category that has yet to break into the mainstream.
A Late Entry Into a Growing Category

Samsung Electronics and Huawei Technologies have sold folding phones since 2019, but the devices have mostly stayed a niche product among tech enthusiasts rather than a mass-market seller. Apple’s decision to enter the category years later comes with an expected price above $2,000, a new high for a company that has built its brand on mass-market luxury.
Despite the cost, analyst firms including IDC expect Apple to sell every foldable iPhone it can produce and to capture 40% of the folding phone market by the end of next year. Analysts say Apple’s late entry could work in its favor, giving the company time to solve engineering problems that have challenged competitors, including building a hinge sturdy enough to survive repeated folding while keeping the crease at the screen’s fold line as minimal as possible.
One challenge that remains unresolved is how well Apple’s foldable will hold up against dust and water. Google’s Pixel 10 Pro Fold currently holds an edge over Samsung’s folding phones on this front, carrying an IP68 rating that means the device is dust-tight and can survive being submerged in a meter of water for a period of time. Apple has not confirmed whether its foldable will match or exceed that rating.
A Shift in Apple’s Product Calendar
Wednesday’s event is also expected to bring a change to how Apple releases new phones each year. Analysts anticipate the company will introduce new Apple Watch models alongside the folding iPhone but will hold off on updating its more affordable iPhone lineup until next spring. Instead, Apple is expected to limit Wednesday’s announcements to the folding device and the iPhone Pro and Pro Max models.
The change appears designed to spread out Apple’s sales cycle over the year rather than concentrating nearly all iPhone releases around the same date. Apple’s revenue currently sees its largest jump during the year-end holiday quarter in the U.S. and Europe, when new iPhone models typically go on sale just before the shopping season begins. Splitting the product lineup across two release windows could smooth that pattern and give Apple two distinct sales pushes instead of one.
What’s at Stake for Ternus

The launch carries added weight because it is Ternus’s first major test as CEO. He spent years overseeing Apple’s hardware engineering before moving into the top role, and Wednesday’s event will show whether he can translate that background into a product that expands Apple’s reach rather than simply adding a high-priced option for existing customers.
A folding iPhone priced above $2,000 sets Apple apart from rivals that have generally sold their foldable models at lower price points to build market share first. Apple’s approach mirrors its usual strategy of entering a category later than competitors, then relying on brand loyalty and production scale to dominate the segment despite a premium price. The company took a similar path with wireless earbuds and smartwatches, both categories where competitors launched first but Apple eventually became the top seller.
Whether that strategy works for folding phones will depend partly on how Apple resolves the hinge and durability questions that have limited the category’s growth so far. A hinge that creases too visibly or wears down after repeated use has been a common complaint about existing folding phones from Samsung and other manufacturers. Apple has had extra time to study those failures before releasing its own version.
The event will also test how much consumer appetite exists for a foldable phone at a price point far above Apple’s standard lineup. Apple’s Pro Max models currently top out near $1,600, meaning a folding iPhone priced above $2,000 would represent a significant jump even for Apple’s highest-spending customers. IDC’s forecast suggests that demand exists among a smaller group of buyers willing to pay for the newest form factor, even if the folding phone remains a smaller share of Apple’s overall iPhone sales in its first year.
Apple has not confirmed pricing, release dates, or full specifications ahead of Wednesday’s event. The company traditionally reveals full details, including exact pricing and shipping dates, during the keynote itself, with pre-orders typically opening within days of the announcement.