Apple unveiled its first foldable iPhone on Wednesday, marking the most substantial change to its flagship product in nearly two decades. The new device, called the iPhone Duo, features a flexible screen that folds like a book, offering users a compact exterior display roughly the size of a passport and a larger interior screen that supports multitasking with two apps simultaneously. The phone will retail starting at $1,999 and is scheduled to launch on October 23.
The announcement came during a 75-minute prerecorded event at Apple’s headquarters in Cupertino, California, and was the first product unveiling under the company’s new chief executive, John Ternus, who succeeded Tim Cook last week. Ternus emphasized the iPhone Duo’s distinct design, stating it would provide a more seamless foldable experience than previous models offered by competitors. “Others have created foldables that just feel like two phones awkwardly stuck together,” he said.
Foldable smartphones have been available since 2018 but have yet to achieve widespread adoption. According to market research firm Counterpoint, about 20 million foldables were shipped globally last year, representing less than 2% of total smartphone shipments. Industry experts view Apple’s entry into the segment as an attempt to diversify and grow its iPhone business, which generates over $200 billion annually and accounts for more than half of the company’s revenue. Gene Munster, managing partner at Deepwater Asset Management, characterized the iPhone Duo as part of Apple’s experimentation with new product formats to sustain growth.
The iPhone Duo incorporates a glass exterior with a custom polymer inner display that has a plastic-like feel. Its software dynamically adjusts to folding states, allowing content to contract to the smaller front screen or expand across the inner display. Apple’s head of marketing, Greg Joswiak, described the device as “the most transformational iPhone experience since the original.”
The launch comes amid challenging market conditions, including a global shortage of memory chips driven by increased demand from the artificial intelligence sector. Apple has already adjusted its pricing for other products this year in response to rising component costs. On Wednesday, the company quietly raised prices on previous iPhone models by $100, including the iPhone 17, 16, 17e, and iPhone Air.
Industry analysts consider the $1,999 price point for the iPhone Duo a bold move, suggesting Apple may accept lower margins to stimulate early demand amid potentially limited supply. While the foldable segment remains small, with foldables likely to constitute only about 5% of iPhone shipments next year, Apple’s entry could significantly expand the market.
In addition to the foldable iPhone, Apple introduced updates to its traditional iPhone lineup. The iPhone 18 Pro and 18 Pro Max will feature the new A20 Pro chip, enhancing capabilities for running Apple’s most advanced artificial intelligence models. Battery life has also been improved, with the iPhone 18 Pro capable of playing video for up to 36 hours and the Pro Max for 48 hours. Pricing for the new Pro models starts at $1,199 and $1,299, respectively, reflecting a $100 increase over previous versions.
Apple also highlighted artificial intelligence features across its product range. The latest Apple Watch models now include an AI-powered assistant capable of summarizing daily activities and conversations without recording or storing audio, maintaining privacy standards. Additional features allow the watch to detect sounds like sirens and doorbells and provide context for conversations from the previous 15 seconds.
The company refreshed its AirPods line as well. AirPods 5 will offer improved noise cancellation, enhanced sound quality, and better fit options. A more advanced variant will introduce volume controls via touch gestures and wireless charging, with prices remaining steady at $129 for the base model.