Apple Unveils Foldable iPhone Duo Under New CEO Ternus
The Dow has fallen for three consecutive trading days against a backdrop of $100 oil prices and elevated bond yields. Apple's new CEO, John Ternus, is already making his mark on the company with the launch of its first foldable iPhone, the iPhone Duo.
The device pairs a 7.6-inch inner display with a 5.4-inch cover screen and will be available for $1,999. Ternus described the iPhone Duo as a 'cleaner version' of existing foldables on the market, likening them to 'two phones awkwardly stuck together.'
Apple's dominance in various markets is well-documented, with the company emerging as leaders in MP3 players, smartphones, tablets, and watches under the leadership of Tim Cook. The stock finished flat on the day, but analysts forecast that Apple could sell up to 6 million iPhone Duos in 2026, giving the company a 25% share of the foldable market.
The new CEO's approach is seen as a positive sign for a company trying to shake off its reputation as a loser in the AI race. While foldables may not become a massive business line, it could generate $14 billion in revenue, or roughly 3% of Apple's revenue.