Apple CEO John Ternus Kicks Off First Event With iPhone 18 Pro Reveal and Foldable iPhone Duo Expected at Around $2,000

Apple held its annual September product event on Wednesday at its Cupertino, California headquarters, the first under new CEO John Ternus, who took over from Tim Cook on September 1. Dubbed "Surprise and Shine," the event marked the debut of Ternus as the public face of Apple and set the tone for what analysts are calling the most ambitious product cycle in the company's history.

Ternus opened the event by announcing the iPhone 18 Pro and iPhone 18 Pro Max, which arrive in two new colors, glacier and burgundy. Both models will be able to run Apple's most advanced on-device AI model, tied to what Apple described as "a new Siri." Investors are watching closely to see whether Apple raises starting prices for its flagship iPhones.

The centerpiece of the event is Apple's first-ever foldable smartphone, the iPhone Duo, which is expected to carry a price tag of roughly $2,000. The launch comes one day after rivals Huawei and Xiaomi both announced competing foldable devices in China, with Xiaomi unveiling its passport-sized 18 Fold and Huawei revealing the trifold Mate XT2.