Apple to Debut Foldable iPhone as New CEO Takes Reins

Starting next week, Apple will have a new CEO: company hardware chief John Ternus.

And to help kick off his tenure, the tech giant will, the following week, hold its biggest product rollout of the year, Bloomberg News reported Wednesday (Aug. 26).

That event is scheduled for Sept. 9 at Apple’s headquarters in Cupertino, California, and will be livestreamed on its website. The tagline for the launch is “Surprise and shine,” the report added, citing an invitation from the company.

At this event, Bloomberg added, Apple is set to debut new versions of the products that drive the bulk of its revenue. Especially critical is the introduction of the company’s first foldable iPhone, putting Apple into a market dominated by Samsung, and marking the most significant change to the product’s look.

According to the report the phone will be about the size of a standard passport, and when unfolded will reveal a screen about the size of a small iPad.

In addition to the foldable iPhone, Apple also plans to debut the iPhone 18 Pro and Pro Max, successors to its current high-end phones, featuring faster chips, better battery life and major upgrades to the camera, Bloomberg said.

The report said the event is noteworthy for what isn’t on the schedule: a new version of the iPhone Air or a standard iPhone 18, both of which are set to debut next year as Apple works to smooth out its sales across the year.

Apple announced in April that Ternus, senior vice president of hardware engineering, will succeed Tim Cook as chief executive.

The Bloomberg report said Ternus had been one of driving forces behind the foldable iPhone, and its launch has been timed to coincide the start of his tenure.

The new phones are coming at a time when smartphones have become “retail’s operating system,” as PYMNTS wrote last month.

While consumers now use mobile devices for 53% of purchases, research from PYMNTS Intelligence and Visa Acceptance Solutions shows the larger shift is happening before checkout.

“Shoppers now use their phones to discover products, compare prices, read reviews, check inventory, access loyalty offers and pay in stores,” that report said. “For retailers, that changes the competitive question. Winning on mobile is no longer about building a cleaner app or shortening checkout by one screen. It is about influencing the entire shopping journey before a rival appears in the next search result, marketplace listing or social feed.”