Apple has unveiled its first foldable smartphone, the iPhone Duo, at an event marking the debut keynote for new CEO John Ternus. The device, described as being passport-sized, offers a larger display through a folding mechanism and is designed to be Apple's thinnest iPhone when open. The Duo's screen is reportedly 80% larger than that of the iPhone 18 Pro when unfolded.
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The event also saw the launch of updated iPhone 18 Pro and Pro Max models, featuring an upgraded A20 chip, improved battery life, and faster charging. Apple stated these devices are designed to support the company's AI capabilities, branded as Apple Intelligence. The iPhone 18 models are available in new glacier and burgundy colors, with the Pro starting at $1,199 and the Pro Max at $1,299.
Other product updates included the AirPods 5, with enhanced durability, priced at $129 for the base model and $149 for a higher-end version. The Apple Watch lineup was also refreshed with Series 12 and Ultra 4 models.
Ternus, who previously served as Apple's hardware chief, took over as CEO on September 1. Longtime CEO Tim Cook will transition to the role of executive chairman.
The release of the foldable iPhone occurs amidst industry-wide challenges for Apple, including a supply chain crunch due to shortages of computer chips and other essential components. Earlier this year, Apple cited these memory shortages as a reason for price increases on MacBooks and iPads, with some rising by as much as $500. The company has characterized these supply chain issues as an "unprecedented challenge."
Analysts had anticipated pricing decisions would be a key challenge for Apple, balancing the need to offset production costs with maintaining sales volume. Ahead of the event, Apple's stock had seen a decline of over 4% in the preceding five days, suggesting muted expectations from Wall Street.
The iPhone Duo launch follows the introduction of the Vision Pro virtual reality headset in 2024, which faced limited consumer adoption partly due to a lack of dedicated applications and its high $3,500 price tag.
Additionally, Apple confirmed the beta release of its revamped Siri voice assistant this month, with a wider release to follow. Analysts have indicated that a strong performance from the updated Siri is crucial for reassuring investors about Apple's AI strategy.