Free daily briefing on global business news.
The foldable device could cost more than $2,000, setting a new high for Apple handsets, and marks the biggest iPhone change since 2017
David Paul Morris / Bloomberg via Getty Images
Apple $AAPL held a product launch event on Wednesday at its Cupertino, California headquarters, where it is expected to unveil its first foldable iPhone — the most significant change to the flagship product since the iPhone X $TWTR removed the physical home button in 2017, according to Reuters.
The event marks the first major product launch under Chief Executive John Ternus, who took over from Tim Cook on Sept. 1. The foldable iPhone is expected to be priced upward of $2,000, which would set a record for any Apple handset. Research firm IDC projects that Apple will claim roughly 40% of the foldable phone segment within the next year and a half, according to Reuters.
