Apple unveiled its first foldable iPhone on Wednesday, introducing the $1,999 iPhone Duo alongside the iPhone 18 Pro and iPhone 18 Pro Max in the company’s first major product launch under new CEO John Ternus.
The event marked one of Apple’s biggest changes to the iPhone lineup in years. The iPhone Duo gives Apple its first entry into the foldable smartphone market, while the company’s flagship Pro models received new chips, cameras and other upgrades – along with higher prices.
Apple shares fell about 1.5% around the event as investors assessed the new products and pricing strategy.
Apple’s First Foldable iPhone Starts at $1,999
The headline product was the iPhone Duo, which features a 7.6-inch internal display and a 5.4-inch external screen.
The device is powered by Apple’s new A20 Pro processor and starts at $1,999, positioning it at the premium end of the smartphone market.
Apple’s entry into foldables comes years after competitors including Samsung and Google began selling devices in the category. The company is betting that its hardware and software ecosystem can help bring foldable phones further into the mainstream.
The iPhone Duo will reach customers later than the rest of the new lineup, with availability scheduled for October 23.
iPhone 18 Pro Gets a $100 Price Increase
Apple also introduced the iPhone 18 Pro and iPhone 18 Pro Max, both powered by the A20 Pro chip.
The phones feature a new camera system with variable aperture, a smaller Dynamic Island and improved battery life. Apple is offering the devices in four colors: burgundy, Glacier blue, black and silver.
But those improvements come with higher prices.
The iPhone 18 Pro starts at $1,199, while the Pro Max begins at $1,299, representing a $100 increase from the previous generation. CNBC also reported that Apple has increased prices on several older iPhone models.
Preorders for the new products begin September 12, with most of the devices reaching customers on September 18.
Apple Updates Watches and AirPods
Apple’s wearable lineup received a more incremental refresh.
The Apple Watch Series 12 and Apple Watch Ultra 4 retain designs similar to their predecessors but introduce internal upgrades centered around health and performance tracking.
Both incorporate Apple’s new S11 processor, while health features include more frequent heart-rate and heart-rate variability measurements and a new readiness metric designed to help users understand their overall physical condition.
Apple also introduced AirPods 5, featuring improved audio quality and upgraded active noise cancellation despite maintaining an open-ear design.
Live Translation is another major addition, expanding Apple’s push to integrate more AI-powered capabilities directly into its consumer devices.
iOS 27 Brings Apple’s New Siri AI
Apple’s hardware announcements were accompanied by iOS 27, which is scheduled for release on September 14.
The software includes an updated version of Siri powered by Apple’s latest artificial intelligence technology, making the assistant an important part of Apple’s broader effort to compete in consumer AI.
The launch comes at a crucial moment for the company. Apple is simultaneously trying to enter a new hardware category with the iPhone Duo, accelerate its AI strategy and convince customers to accept higher prices for its flagship smartphones.
The market’s initial reaction was cautious, with Apple shares down around 1.5%.
Still, the iPhone Duo makes this product cycle considerably more significant than a routine annual upgrade. Apple’s first foldable phone opens an entirely new category for the company’s most important product and gives new CEO John Ternus an ambitious first major hardware launch at the helm.
