CUPERTINO, California, Sept 9 : Apple is widely expected to unveil a pricey folding iPhone at a launch event on Wednesday at its Cupertino, California, headquarters.The event, the first with new CEO John Ternus at the helm, will be the most noticeable overhaul of Apple's flagship product since it removed the physical home button from the iPhone X in 2017. The iPhone brought in $209.6 billion, or just over half of Apple's sales, in its most recent fiscal year.The keynote address will also be the first extended commentary from Ternus, who previously served as Apple's hardware chief but has kept a low public profile aside from a handful of product introductions and sustainability initiatives. It will fall to Ternus to persuade Apple's customers that they need a foldable device that could cost more than $2,000, a new high for a global brand that has defined mass luxury.While Samsung Electronics and Huawei Technologies have sold folding phones since 2019, the devices have remained a niche among tech enthusiasts. But even with a steep price tag, analyst firms such as IDC expect Apple will sell every foldable iPhone it can produce and secure a 40 per cent share of the lucrative niche by the end of next year.