Smartphone maker needs to raise prices across its device range to make up for rising costsApple’s John Ternus is set to unveil his first slate of new products as chief executive on Wednesday, hoping to sell customers on two things not seen in the iPhone’s two-decade history: a foldable screen and a price tag above $2,000. Photograph: Michael O'Sullivan Michael ActonMon Sept 07 2026 - 16:30 • 4 MIN READApple’s John Ternus is set to unveil his first slate of new products as chief executive on Wednesday, hoping to sell customers on two things not seen in the iPhone’s two-decade history: a foldable screen and a price tag above $2,000 (€1,722).The new design has been in the works for at least eight years inside the company’s hardware division, until this week led by Ternus. Outgoing chief executive Tim Cook has handed his successor the opportunity to front the high-stakes launch in his second week atop the world’s second most valuable company.But the launch brings big challenges as Apple needs customers to swallow price increases to make up for cost pressures across its supply chain or take a hit to its high margins. And foldable phones, while eye-catching, have had limited traction with consumers in the seven years since other major manufacturers brought them to market.“There are a lot of reasons Apple wanted to wait in that particular product category,” said Radu Reit, a former Apple display engineer. Recent advances have improved the durability of the foldable screen while minimising the crease and lowering manufacturing costs.“The structure of the device Apple will probably launch has been possible for more than a decade. However, that screen would have cost thousands of dollars to make 10 years ago,” Reit added. “The other aspect is commercial: Is the market really big enough? It wasn’t the case at the time.”Apple’s foldable device is expected to cost $2,000 or more alongside price rises across the iPhone range, according to analysts, a milestone that could test customers’ tolerance. The company is expected to stagger the launch of the base model iPhone 18 into spring of next year.Iphone 16 Pro models for sale in New York. Photo: Juan Arredondo/ New York Times