Apple is preparing to launch a new foldable iPhone Duo, anticipated to cost around $2,000, at its event on Wednesday. This device is seen as a major design overhaul, marking the biggest change in nearly 20 years for the iPhone and a key product introduction for new CEO John Ternus. The event will also feature the iPhone 18 Pro, new Apple Watches, and updated AirPods.
Analysts predict the foldable iPhone could even exceed $2,500, with some expecting Apple to emphasize sturdier hinges and reduced screen creasing. This product category has been in development for about eight years within Apple, with former CEO Tim Cook pushing for its acceleration after observing the popularity of foldable devices from competitors like Samsung and Huawei in Asia. Ternus faces the challenge of justifying these high price points to consumers, particularly as the company deals with supply chain cost pressures.
While foldable phones currently represent about 2% of global smartphone sales, with growth slowing since 2019, Apple is banking on its new device to revitalize interest and capture significant market share. IDC projects that Apple could secure 40% of the foldable market by 2027, with global foldable sales growing by approximately 12% year-on-year. UBS analyst David Vogt expects Apple to sell at least 10 million foldables in the first year, which would roughly match Samsung's sales over the past 12 months. This initiative aims to drive device replacement and increase the average selling price of iPhones, even as overall global smartphone sales are shrinking. Analysts also anticipate price increases across the entire iPhone range, raising concerns about potential impacts on sales, referencing past instances where aggressive price hikes led to sales declines in Europe.
