Apple's Introduction of Its First Foldable iPhone and iPhone 18 Pro Series
On September 9, 2026, Apple Inc. unveiled its first-ever foldable iPhone during a product launch led by newly appointed CEO John Ternus. Alongside the foldable model, Apple refreshed its premium lineup with the iPhone 18 Pro and Pro Max, integrating the new A20 Pro chip, which enhances on-device Siri AI capabilities.
This foldable iPhone represents Apple's most significant design innovation since the 2017 debut of the iPhone X. The new device features a book-style fold mechanism. Notably, Apple has deferred the traditional iPhone 18 release to spring 2027, concentrating current efforts on high-end Pro models and the foldable segment.
Apple’s Stock Sees Slight Pullback Ahead of Launch Amid Varied Market Sentiment
Ahead of the launch event, Apple’s share price retreated modestly by 1.17%, closing at $316.22, slightly below its 52-week peak. HSBC maintains a bullish stance with a buy rating on Apple and a target price of $366. Citi analysts project foldable iPhone sales could reach 7.3 million units, despite a premium price point approaching $2,000, higher than previous models. Rising memory costs are also anticipated to contribute to the elevated pricing of the iPhone 18 Pro series.
Huawei and Xiaomi Accelerate Foldable Phone Competition
In the same week as Apple’s announcement, Chinese rivals intensified competition in the foldable segment. On September 7, Huawei introduced the Mate XT2, a tri-fold phone equipped with its self-developed Kirin 9050 Pro chip, priced between approximately $2,980 and $3,725. Xiaomi simultaneously launched the 18 Fold, starting at about $1,540. These competitive offerings challenge Apple not only on innovation but also across price tiers.
Huawei Executive Director Yu Chengdong emphasized the company’s commitment to advancing foldable phone innovation to capture a greater share of the premium market. With mounting competition, questions remain on how Apple will leverage its ecosystem strength and technological advancements to sustain momentum in the growing foldable smartphone marketplace.