Apple's New CEO Tapped to Launch $2,000 Foldable iPhone, Report Suggests

Apple is reportedly positioning its incoming CEO, John Ternus, to be the face of a highly anticipated, yet potentially polarizing, new product: a foldable iPhone with a hefty $2,000 price tag. This strategic move aims to link Ternus's leadership with a groundbreaking device, drawing parallels to his early work on the original iPad.

Key Takeaways

• Incoming CEO John Ternus is expected to debut the foldable iPhone.
• The device is rumored to launch with a $2,000 price point.
• This launch is seen as a strategic move to associate Ternus with a major new product category.

A New Era for Apple's Leadership

According to a Bloomberg report, John Ternus, who will officially assume the CEO role on September 1, is slated to unveil the foldable iPhone within two weeks of taking the helm. This timing is no accident; Apple appears to be orchestrating a narrative where Ternus, the engineer behind the original iPad, becomes synonymous with this ambitious new venture. Sources suggest that his leadership of this project will be heavily emphasized during the launch period.

Contrasting Legacies: Vision Pro vs. Foldable iPhone

This strategy stands in contrast to Tim Cook's tenure, which will likely be remembered for the introduction of the Apple Vision Pro. The mixed reception and high cost ($3,499) of the Vision Pro have led some tech observers to question Apple's product strategy. The foldable iPhone, while expensive, is seen as a more familiar concept, potentially mitigating some of the risks associated with the Vision Pro's more radical departure.

Market Potential and Familiarity

Unlike the Vision Pro, the foldable iPhone concept is not entirely new to the market. Competitors like Samsung have offered foldable phones for years, with some models even exceeding Apple's rumored price point. This familiarity, combined with Apple's strong market position and analysts' optimistic revenue forecasts for the upcoming quarter, suggests that the foldable iPhone could be a significant success, despite its premium cost. The report indicates that analysts predict Apple could surpass its previous record for December-quarter earnings, forecasting nearly $150 billion in revenue.