At its September 9 product event at Apple Park, Apple introduced its first foldable smartphone, alongside the iPhone 18 Pro and Pro Max. The event is the first major product presentation under Apple’s new chief executive, John Ternus, who succeeded Tim Cook on September 1. For both Ternus and Apple, the foldable iPhone could become an early test of whether the company can begin another period of major hardware innovation.

Apple introduced a book-style device that opens to reveal a screen roughly comparable to an iPad mini. Analysts expect the price to exceed $2,000, putting it at the extreme premium end of the smartphone market.

Apple’s entrance could transform foldables from a technological curiosity into a mainstream premium category. Samsung, Huawei, Google, and Chinese competitors could face pressure to improve durability, reduce thickness, and lower prices. Application developers could increasingly redesign software for screens that shift between conventional smartphone and tablet dimensions.

The launch is particularly significant for Mr. Ternus. A longtime Apple executive who joined the company in 2001, Ternus previously led hardware engineering and was involved with products ranging from the iPad to AirPods and the iPhone. His elevation to CEO after Tim Cook’s 15-year tenure has been interpreted as emphasizing Apple’s traditional strength in designing hardware. In his first message to employees as CEO, Ternus described this week’s unveiling as a ‘huge launch,’ while expressing enthusiasm about additional products under development.

Apple is entering the foldable market relatively late. Samsung began selling folding smartphones in 2019, while Huawei, Motorola, Google and several Chinese manufacturers subsequently introduced their own models. Apple’s decision to wait allowed competitors to experiment with hinges, flexible displays, battery placement and durability, problems that plagued some early folding phones.

That makes the foldable iPhone unusually symbolic. Tim Cook’s Apple became successful through operational efficiency, services, and steady refinement of existing products. Ternus now has an opportunity to establish himself as a more product-centered chief executive. A successful folding phone would provide him with an immediately recognizable new device associated with the beginning of his leadership.

The economic opportunity for Apple is substantial. Apple could ship more than 17 million folding iPhones by 2027, according to estimates cited by Reuters. Some analysts believe Apple could eventually capture as much as 40 percent of the foldable market. Apple also emphasized premium products at the September event, including the iPhone 18 Pro and Pro Max, while reportedly delaying less expensive iPhone 18 models until later. That strategy could raise Apple’s average selling price and stabilize revenues while component costs remain high.

The significance of Apple’s foldable phone likely extends beyond a new screen that bends. If consumers embrace foldable smartphones, Apple could legitimize an entirely new smartphone form factor and trigger another industry-wide design competition. For John Ternus, that would be an unusually powerful way to begin his tenure. Not by just maintaining the enormous business Tim Cook left behind but demonstrating that Apple can still persuade millions of consumers that their existing phones suddenly look outdated.