Apple's first foldable phone, the iPhone Duo, starts at 15999 yuan in China and is available for pre-order on October 16.

More than a decade ago, there was a scene in 'Love Apartment': Hu Yifei pushed open the door holding a phone with an absurdly long screen and asked Guan Gu Shenqi, 'Xiao Guan, how do I use this iPhone 18?' At the time, everyone took it as a nonsensical joke—the iPhone 18 sounded as distant as a sci-fi concept.

But at today's Apple event, the iPhone 18 Pro series actually arrived. Alongside it was Apple's first foldable phone, the iPhone Duo, and the debut of new CEO John Ternus, who took over on September 1 just under ten days ago. This event also broke Apple's two-decade tradition: no standard version was released, only three high-end models—the iPhone 18 Pro, Pro Max, and the foldable Duo. In a year of mounting costs, Apple prioritized limited 2nm production capacity for higher-margin premium products, safeguarding profits with a high-end-first strategy.

This event may seem like the launch of three phones, but at its core, it reflects Apple's proactive positioning amid industry upheaval. IDC data shows global smartphone shipments are expected to decline 16.7% by 2026, but foldable phones will grow 12.6% against the trend, becoming one of the few expanding segments. Meanwhile, the high-end market (above $600) continues to expand—consumers aren't buying fewer phones; they're willing to pay more for breakthrough experiences. By entering the foldable market with the iPhone Duo and equipping the iPhone 18 Pro series with a 2nm A20 Pro chip and in-house C2 baseband, Apple is vying for high-value structural growth opportunities in a stagnant market.

All models see a $100 price hike: A20 Pro chip ready, iPhone 18 Pro series delivers

Following industry norms, let's start with pricing. The iPhone 18 Pro starts at $1,199, and the iPhone 18 Pro Max at $1,299, both $100 higher than the previous generation. In China, the iPhone 18 Pro starts at 9999 yuan, and the Pro Max at 10999 yuan. Pre-orders begin September 12, with official sales starting September 18, available in four colors: Deep Black, Silver, Glacier, and Wine Red.

Apple's Senior Vice President of Global Marketing, Greg Joswiak, set the tone at the event: 'This upgrade isn't incremental—it's a leap.' The leap focuses on four areas users care about most: imaging, performance, battery life, and intelligence.

Imaging is the headline upgrade. The iPhone 18 Pro series introduces a 48MP variable-aperture main camera—Apple's first phone with manual aperture control. The lens features six laser-cut blades; casual users can rely on auto mode, while pros can manually adjust the aperture in the Camera app. Apple also opened the API to third-party apps for fine-tuning across the full aperture range.

The second major upgrade is the A20 Pro chip, Apple's first 2nm mobile chip. Memory bandwidth increases by 50% compared to the A19 Pro; the new 6-core CPU integrates a neural network accelerator, and the 7-core GPU boosts graphics processing by up to 40%. The dual 16-core neural engine totals 32 cores, doubling AI performance versus the A19 Pro. Thermal management is revamped with a custom M-series-inspired package that connects the chip directly to the vapor chamber. The redesigned vapor chamber uses new materials, tripling the heat dissipation area compared to the iPhone 17 Pro, enabling up to 40% sustained performance gains.

For connectivity, both models feature Apple's in-house N1 wireless chip, supporting Wi-Fi 7, Bluetooth 6, and Thread protocols. The iPhone 18 Pro debuts the next-gen C2 cellular baseband: upload speeds surge compared to the C1X, power consumption drops 15%, and the U.S. version adds mmWave support, marking another step toward replacing Qualcomm with in-house modems.

Battery capacity increases significantly—Apple claims the iPhone 18 Pro Max's battery life improves more than any previous iPhone. On the intelligence front, it ships with iOS 27, featuring built-in Apple Intelligence and a revamped Siri focused on personal context-aware information processing, with a strong emphasis on privacy and security.

Apple's most expensive iPhone yet: Foldable iPhone Duo, starting at 15999 yuan

Apple's first foldable phone, the iPhone Duo, is officially here. The 256GB model is priced at $1,999 in the U.S. and 15999 yuan in China, with 512GB at 17999 yuan, 1TB at 21499 yuan, and 2TB at 26499 yuan. Pre-orders begin October 16 in China, with sales starting October 23.

Nearly 20 years after the iPhone's debut, its design has undergone just two major iterations: the original with a physical Home button, and the 2017 iPhone X, which removed it for a full-screen design with Face ID. The foldable iPhone Duo represents the third—and most radical—design revolution.

When folded, it fits comfortably in one hand or most pockets. The 5.4-inch external display covers 90% of the iPhone 18 Pro's screen area, making messaging and notifications manageable without unfolding. Fully opened, the 7.6-inch internal screen is 50% larger than the iPhone 18 Pro Max's. Both screens share the same aspect ratio, so app layouts adapt seamlessly when folding or unfolding. Both support ProMotion adaptive refresh rates and peak outdoor brightness of 3000 nits. A nano-texture coating reduces glare, and the matte finish visually minimizes creases. A hidden FaceTime camera sits beneath the inner screen, retracting when not in use for a hole-free display.

The hinge is the foldable's core. In demos, it opens and closes smoothly, lying flat when unfolded and snapping shut with magnets when closed. Long-term durability remains unproven until post-launch testing. Two interaction innovations stand out: a side button integrates Touch ID for unlocking in both folded and unfolded states, and Apple Watch unlocking is also supported. A new Siri Camera mode lets Siri analyze the lens view to answer questions or execute actions.

The iPhone Duo shares the A20 Pro chip with the iPhone 18 Pro, paired with a next-gen cooling system that boosts sustained performance by up to 35% versus the iPhone 17 Pro. Connectivity sees two key changes: the in-house N1 chip supports Wi-Fi 7 and Bluetooth 6, while the C2 baseband adds AI optimization and mmWave support in the U.S. version.

In a controversial move to free up space for a larger battery, the global version of the iPhone Duo ditches the physical SIM slot, relying solely on eSIM. Battery life is a selling point: dual batteries (one on each side) deliver up to 31 hours of video playback on the inner screen alone, 44 hours on the outer screen, or 24 hours with balanced dual-screen use.

Agency forecasts for foldable sales are optimistic. Wall Street expects Apple's new flagship to sell 7–10 million units this year. IDC's senior smartphone market researcher, Nabila Popal, stated, 'Trust me, despite the high price, the foldable iPhone will be a massive hit.'

Sales aren't a concern, but production capacity is. Multiple sources note Apple's stringent quality standards have limited initial daily output of the first foldable iPhone to just a few hundred units. Apple and suppliers are rushing to ramp up production. A supply chain executive familiar with the situation revealed Apple ordered another round of trial production in August, yet daily output remained in the hundreds by late August. This raises doubts about meeting the earlier target of 8–10 million units by year-end.

Apple's entry reshapes the foldable phone market

Foldable phones reach a milestone this year: Counterpoint projects cumulative shipments will surpass 100 million units by the end of 2026. Eight years after the first commercial foldable launched in 2019, Apple has finally entered the fray.

Apple's arrival will reshuffle the market. By 2026, Counterpoint data suggests Samsung's share will drop to 32% (from ~40% in 2025), Apple will grab 25% in its debut year to rank second, and Huawei will follow with 24%.

Panel data mirrors this growth. Counterpoint expects foldable smartphone panel shipments to reach ~27.5 million units in 2026, up ~24% from 2025, with the market value surging 48% to ~$4.4 billion. After a minor 2025 dip, the foldable panel market returns to growth, driven not just by volume but also by higher average prices and improved product mix from Apple and Samsung's premium orders.

However, growth will be uneven: Q3 and Q4 combined will account for ~64% of annual shipments. Market recovery hinges on Samsung's new product cycles, Apple's procurement ramp-up, and rapid restocking by Chinese Android vendors. In panel procurement, Samsung leads at ~31%, Apple captures ~29% in its first year, and Huawei takes ~24%.

In short, Apple won't immediately overtake Samsung or Huawei, but it will expand the market and shift competition toward higher-priced, more reliable horizontal inner-folding models with minimal creases.

Epilogue: Will the market pay for Ternus's first answer?

Consider the data: iPhone 17 series wholesale revenue surpassed $170 billion in its debut year, a record for any iPhone generation and an 11% increase over the iPhone 16 series. Ternus inherits an Apple still breaking revenue records, but cost pressures loom large.

On September 1, Tim Cook stepped down as CEO to become Executive Chairman, handing the reins to John Ternus, a 25-year Apple hardware engineering veteran. This event marks Ternus's first major public appearance as CEO. Known for his meticulous attention to detail and innovation, Ternus now faces an industry plagued by rising costs: Ming-Chi Kuo revealed DRAM shortages forced Apple to cut 2026 hardware shipment plans, with storage costs soaring from ~10% to ~34% of component expenses in a year. TrendForce estimates the iPhone 18 Pro's 256GB model material costs have jumped nearly 38% year-over-year.

Under cost pressure, the pricing strategy is clear: the iPhone 18 Pro series sees a $100 global price hike, while the foldable iPhone Duo starts at a record 15999 yuan, topping out at 26499 yuan. This is Ternus's first product answer. The real test begins now: after price increases, will the market still pay a premium for the 'Apple' brand?

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