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Alongside unveiling the iPhone 18 and its first foldable, the iPhone Duo, Apple raised prices on its older iPhone lineup by roughly $100 in the US, with steeper increases abroad, including about 20.5% in India. The company also discontinued the iPhone 17 Pro and Pro Max models.
Apple has introduced its first foldable smartphone, called the Duo, with prices starting at $2,000 and reaching $3,200 for the largest storage model. New CEO John Ternus, who led the project during his time in Apple's hardware division, presented the book-style device as being inspired by the iPad, unfolding into a small tablet and folding into a wider phone.
At Apple's Surprise and Shine event, new CEO John Ternus argued that the iPhone already fulfills the role of an ideal AI device, citing its processing power, connectivity, cameras, display and battery life. Rather than announcing new AI-specific hardware, Ternus positioned the existing iPhone as Apple's answer to competitors building standalone AI gadgets.
John Ternus kicked off Apple's Wednesday product event with a standing ovation, marking his debut as CEO after succeeding Tim Cook. Ternus, a two-decade Apple veteran who worked under both Steve Jobs and Cook, takes over as Cook shifts to executive chairman of the board. The event served as his first public moment steering the company's product direction.
Apple's September 9 event, dubbed 'Surprise and shine,' will mark John Ternus's debut as company head following Tim Cook's move to executive chairman. Analysts widely expect Apple to finally unveil its long-rumored foldable iPhone at the Cupertino event, set for 1PM ET/10AM PT.
A new Bloomberg report says Apple began exploring foldable iPhone technology around 2016, but Tim Cook's personal enthusiasm after a trip to China in 2020 redirected the project toward a foldable phone rather than a foldable iPad. Rising component costs, partly driven by a memory shortage, have reportedly pushed Apple's internal pricing target from $1,999 up to $2,199, with higher-storage models potentially nearing $3,000.
Apple's September 9 event is expected to unveil only premium iPhone 18 Pro and Pro Max models, alongside a rumored first foldable device, while the standard iPhone 18 reportedly won't arrive until spring 2027—possibly alongside an iPhone 18e and a second-generation iPhone Air. Analysts point to leaks and industry rumors as the basis for these expectations rather than official Apple statements.
The Financial Times published a new profile of John Ternus, who this week became Apple's CEO as Tim Cook shifted to Executive Chair. The piece includes commentary from Corning CEO Wendell Weeks, who has worked with Ternus since early iPad development, and notes Apple marked the transition with a party at Apple Park featuring Zane Lowe DJing.
Tim Cook has stepped down as Apple's CEO this week, with former hardware chief John Ternus taking over. Ternus's first internal memo referenced a major product launch happening within days, meaning he inherits a high-stakes iPhone event almost immediately. Cook remains at the company as Executive Chairman, shifting his focus toward external policy relationships.
CNET's Big Guessing Game contest concluded its third round ahead of Apple's Sept. 9 'Surprise and shine' event, with 71% of respondents predicting new CEO John Ternus will appear alongside former CEO Tim Cook, now executive chairman. Half of participants expect three new iPhone models to be unveiled, following an earlier round where 80% guessed Apple's first foldable phone would debut at the event.
John Ternus, who succeeded Tim Cook as Apple's chief executive, posted a simple 'hello' on X to mark the transition. The reply section quickly filled with users pitching hardware ideas and design changes, reflecting Ternus's background leading Apple's engineering teams.
Apple's SEC filing reveals incoming CEO John Ternus will receive an annual compensation package worth $58 million, split between a $3 million base salary and $55 million in stock awards starting fiscal 2027. Tim Cook, moving into the newly created executive chairman role, will earn a $47 million package with a $2 million salary and $45 million in equity, split evenly between performance-based and time-based shares.