Apple's new CEO faces his first test with the foldable iPhone.

Apple is expected to announce a series of new and upgraded devices at its annual event in Cupertino, California. The event is scheduled to begin at 10:00 AM local time on September 9th, which is 0:00 AM on September 10th in Vietnam. The most anticipated highlight is the foldable iPhone, a product that has been the subject of much speculation for years but has never been confirmed by Apple.

The event also marked the first time a major Apple hardware event took place under John Ternus, who officially took over as CEO from Tim Cook on September 1st.

Ternus, 51, joined Apple's design team in 2001 and gradually rose through the ranks to leadership positions in engineering, before taking charge of the teams behind the company's entire product line, including the iPhone – Apple's primary source of revenue.

According to information leaked before the event, Apple may introduce its first foldable iPhone, rumored to be called the iPhone Ultra, with a starting price of around $2,000.

The device is said to use a design similar to Samsung's book-style foldable smartphones. This iPhone Ultra model is about the size of a passport when closed and only has two rear cameras, including a main camera and an ultra-wide-angle camera.

When folded, the device has a small screen on the outside; when unfolded, the large screen inside expands to provide a display area closer to that of a tablet. This design aims to combine the portability of a smartphone with the large screen of a tablet, allowing users to have more display space without carrying a large device.

For Apple, this is not simply a new product, but also a test of its ability to generate significant growth under a new CEO. The company hasn't had a groundbreaking product since the AirPods launched about a decade ago.

Samsung was one of the pioneers in bringing foldable smartphones to the mass market with the Galaxy Fold in 2019. The Galaxy Z Fold series was subsequently developed, with high-end versions priced around $2,000. However, foldable smartphones still only account for a very small share of the global market, less than 2% of total shipments.

Apple is expected to quickly shift the balance in this segment thanks to its loyal customer base and extensive product ecosystem.

According to IDC's forecast, Apple could account for approximately 31% of global foldable smartphone demand by the end of this year and increase to 40% by 2027.

IDC analyst Kiranjeet Kaur believes that Apple's foldable iPhone is likely to change the competitive landscape not only in China but also in the global market.

Besides the foldable iPhone, Apple is also expected to unveil new iPhone models in the iPhone 18 series. Notably, the company may only introduce two high-end versions, the iPhone 18 Pro and iPhone 18 Pro Max, while the standard iPhone 18 model may be delayed until next year.

Apple is also expected to upgrade its Siri virtual assistant with new AI features and integrate this version of the virtual assistant into more devices. The list of products could include the Apple Watch, AirPods, Apple TV, and HomePod mini.

With a host of new products expected to launch, this event holds special significance for Ternus. The success of the foldable iPhone will not only be measured by the sales of a high-end device, but it could also indicate whether Apple, under its new CEO, is capable of creating products that can reshape the market.