Apple Reveals First Foldable iPhone in Major Hardware Shift

Apple made a major splash today by showing off its very first foldable iPhone alongside a refreshed iPhone 18 Pro lineup. The September 9 keynote marked the first big hardware reveal for new Chief Executive Officer John Ternus, who recently took over the top spot from Tim Cook. Apple skipped a standard iPhone 18 model this year, choosing to focus its autumn lineup on the folding device, the iPhone 18 Pro, and the iPhone 18 Pro Max. All three new models run on the fresh A20 Pro chip, which brings upgraded on device artificial intelligence features to Siri.

Ahead of the big event, Apple shares closed slightly lower at $316.22. Even with the minor dip, the stock stays strong near its 52 week highs. Financial firms remain optimistic about the hardware rollout. Citi analysts project strong demand with roughly 7.3 million foldable unit sales expected, despite a steep retail price tag approaching $2,000.

Apple enters the folding phone arena amid heavy competition from major Chinese brands. Huawei recently introduced its tri fold Mate XT2, and Xiaomi debuted its passport sized 18 Fold just days prior. Rising memory costs have pushed hardware prices up across the entire industry, making pricing a key challenge for every manufacturer. Market watchers will now track how well the new Apple leadership prices and positions these devices against fierce international competition.