Apple is expected to unveil its first foldable iPhone Wednesday, along with the debut of new CEO John Ternus, who took over from Tim Cook on Sept. 1.
The company’s annual fall event begins at 1 p.m. Eastern at Apple headquarters in Cupertino, California. Apple is also expected to introduce the iPhone 18, along with updates to the Apple Watch, AirPods and Siri.
The foldable iPhone—possibly called the iPhone Ultra—is expected to be the biggest announcement. Analysts say the device could help Apple compete in a growing market, particularly in Asia, where foldable phones from Samsung and Huawei are already popular.
The new phone is also arriving as the broader smartphone market struggles. IDC projects smartphone shipments will fall 16.7% this year, while foldable phones are expected to be the only smartphone category to grow.
Apple has not announced pricing, but Bloomberg reports the foldable could cost around $2,000—well above the roughly $1,200 starting price of the current iPhone 17 Pro Max, according to a CBS News report.
The company is also under pressure to show progress in artificial intelligence, an area where analysts say Apple has fallen behind competitors.
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