Apple's new chief executive John Ternus is set to unveil his first product lineup, featuring a $2,000 foldable iPhone that breaks two decades of traditional iPhone design. The new device, in development for over eight years under hardware division leadership, represents Tim Cook's final major product launch before handing over to Ternus.

The foldable phone faces significant challenges, requiring customers to accept steep price increases to offset supply chain cost pressures. While foldable screens have only captured 2% of global smartphone sales since 2019, Apple is leveraging recent advances in durability and manufacturing costs to revive consumer interest in the niche design.

Industry analysts project foldable sales will grow 12% annually, with Apple expected to capture 40% of this market by 2027. The company plans to sell at least 10 million units in the first year, joining a three-to-five-year product cycle designed to stimulate smartphone replacement demand in an otherwise saturated market.