Apple introduced a foldable iPhone called the Duo, priced at $1,999, during its annual product showcase on Wednesday, the first major event led by new chief executive John Ternus. The passport-shaped device is the most substantial redesign of the company’s flagship product since 2017.
The showcase served as the public debut for Ternus, who took over from Tim Cook after a 15-year tenure. Ternus has spent 25 years at Apple, joining in 2001 and rising to lead the entire hardware department by 2021. He is known internally for a calm manner and close attention to engineering detail, though little of his leadership style has been visible outside the company.
The Duo joined a wider lineup unveiled at the event, which included a pricier iPhone 18 Pro. The foldable marks Apple’s entry into a segment already occupied by rivals including Samsung, which has sold folding handsets for several years.
Ternus assumed the top role after a formal transition confirmed earlier this year, when the company named him to succeed Cook. The event on Wednesday was the first opportunity for consumers and investors to gauge how the new chief presents the company’s direction.
Apple now carries a market valuation of about $4.5 trillion, placing heavy weight on the reception of each new product cycle. The company has faced pressure to broaden its hardware range as smartphone upgrade cycles lengthen and competitors expand foldable offerings across price tiers.
The $1,999 price positions the Duo at the upper end of the consumer handset market, above the standard iPhone range and competing directly with premium foldables. Apple did not tie the launch to a specific artificial intelligence feature push at the top of its presentation, keeping the focus on hardware.
The Duo and the iPhone 18 Pro headline a release schedule that Apple typically follows with staggered availability across markets. Cook’s departure ends a leadership era that began after the death of co-founder Steve Jobs, and the Wednesday showcase closed with the new lineup confirmed for sale.