Apple Unveils Foldable iPhone, Raises Conventional Device Prices
Apple's stock price dropped by about 2% on September 9 after the company announced its first foldable iPhone, called the 'iPhone Duo,' and increased prices for its conventional iPhones. The new devices were unveiled at Apple's annual product launch event, dubbed 'Surprise and Shine.'
The price hike applies to the high-end iPhone 18 Pro lineup, with a starting price of $1,199 for the standard model and $1,299 for the Max version. This is a $100 increase from last year's prices.
Apple's new CEO John Ternus introduced the highly anticipated foldable iPhone, saying it offers 'entirely new possibilities' with its larger display. The device is designed to fit in a person's pocket and hand, despite its large internal and external screens.
The iPhone Duo has a starting price of $1,999 and will be available on October 23. Other new features announced at the event include a single phone number across multiple Apple devices and a new AirPod model with longer battery life and noise cancellation.