Apple Foldable iPhone Launch Aims to Revive Waning Smartphone Market

Apple's upcoming September launch event is set to be its first under incoming CEO John Ternus, and it may bring some much-needed excitement to the tech sector. The company is widely expected to unveil a foldable iPhone at the event, which could help Apple regain its dominance in the smartphone market.

IDC forecasts that Apple will ship over 17 million foldable iPhones by 2027, giving the company a 40% share of the segment and generating more than $45.7 billion in value. This is despite an average selling price above $2,550, accounting for more than half of the category's total value.

The arrival of Apple's foldable iPhone could also help revive the wider foldables market, which is forecast to decline by double digits this year due to rising memory costs and pricing pressure. Shipments in the category are now expected to grow 12.6% in 2026 and 18% in 2027.