Apple's New CEO Just Bet $2,500 on a Folding iPhone. Here's Why It Matters

Jan de Vries · 2026-09-10

Apple just did something it hasn't done in years. It launched a brand-new product category, and the price tag is enough to make you do a double-take. The company's first folding iPhone, called the iPhone Duo, comes in at $2,499. That's not a typo. And the person putting his name behind this bet is John Ternus, Apple's new CEO, who's making his first big product move since taking the reins. So what's actually going on here? And why should anyone outside of Apple's boardroom care? ### A New CEO, A New Playbook John Ternus isn't a stranger to Apple. He spent years leading hardware engineering, the guy quietly responsible for some of the most refined devices the company has ever shipped. But running the whole show is different. You don't just manage products anymore. You set the tone. And his first major move? A folding phone. That tells you something. Ternus isn't playing it safe. He's betting that Apple customers are ready to pay a premium for something genuinely new, not just another incremental camera upgrade. ### Why Folding Phones Are a Big Deal Folding phones have been around for a few years now, mostly from Samsung and a handful of Chinese manufacturers. But they've always felt like a niche experiment. Expensive, fragile, and a little awkward. Apple entering the space changes the conversation. When Apple ships something, it tends to become mainstream fast. Remember when wireless earbuds felt like a gimmick? Now everyone owns a pair. The iPhone Duo, according to early details, unfolds into a tablet-sized display. That means one device that replaces two. For travelers, commuters, and anyone who works from coffee shops, that's a genuinely useful idea, not just a party trick. But here's the catch. ### The Price Is the Real Story At $2,499, the iPhone Duo costs more than most laptops. More than some used cars, honestly. Apple has never been shy about premium pricing. But this is a different level. The company is essentially asking: are you willing to pay MacBook money for a phone? That's a real question, and nobody knows the answer yet. Early adopters will line up. They always do. But the long-term success of the iPhone Duo depends on whether regular people, not just tech enthusiasts, see the value. > "Apple doesn't launch products to test the market. It launches products to define it. The question is whether the market is ready to be defined." ### What This Means for the Industry When Apple moves, everyone else reacts. Samsung will likely push harder on its own folding lineup. Google might accelerate its Pixel Fold plans. And the entire supply chain, from hinge makers to display manufacturers, will feel the ripple. For European startups in the hardware space, this is a signal too. It shows that innovation in form factor is still possible, even in a mature market. If Apple can convince people to pay $2,499 for a folding phone, smaller players might find room to experiment with their own bold ideas. ### Should You Care? If you're an Apple customer, yes. This is the first real glimpse of what the Ternus era looks like. If you're in tech, absolutely. This is a case study in premium positioning. And if you're just someone who likes gadgets, well, it's fun to watch. The iPhone Duo might flop. It might redefine the category. Either way, it's the kind of bet that makes the industry interesting.