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Shares of Apple
sunk 4% Tuesday after reports that the company is facing engineering challenges with its highly anticipated foldable iPhones.
“Apple and the supply chain are working under a pressured timeline and the current solutions are not enough to completely solve the engineering challenges. ... More time is needed,” a person familiar with the situation told Nikkei Asia.
Apple, which celebrated its 50th anniversary last week, has announced four new iPhone models at its September launch event every year since 2020. The foldable phone was expected to launch alongside the iPhone 18 in September 2026, but delays could change that timeline.
