Key Points
Apple Inc. (NASDAQ: AAPL) is set to introduce its first foldable smartphone, anticipated in September 2023 during its annual iPhone lineup event. The device is expected to cost over $2,000, marking it as a new high-end offering in Apple’s product range.
The company has faced technical challenges concerning design and durability, but remains focused on integrating foldable technology, which has been available since 2019. Despite a general lack of interest in foldable smartphones among U.S. consumers, Apple aims to capitalize on the growing popularity of these devices in China, where foldable smartphone sales are increasing significantly.
Apple’s strategy is to strengthen its ecosystem, where users typically purchase high-margin subscriptions and services after acquiring their devices. This launch could enhance user retention, particularly in markets where foldable phones are prominent.
