In a historic move for the world’s most valuable tech giant, Apple has officially announced that Tim Cook will transition to Executive Chairman on September 1, 2026, handing the CEO reins to veteran hardware chief John Ternus. To define this new leadership era, Apple is reportedly betting on its most ambitious hardware project in a decade: a $2,000 foldable iPhone, slated for an early September debut. According to insiders, the device—frequently referred to as the “iPhone Fold” or “iPhone Ultra”—is being positioned as the “culmination” of Ternus’s career. By having Ternus lead the launch within his first two weeks in office, Apple aims to make him the face of a transformative product category, much like the original iPhone was for Steve Jobs and the Apple Watch was for Tim Cook.
The foldable device is expected to be an engineering marvel, featuring a book-style design that unfolds into a horizontal, iPad-sized display. To justify the premium $2,000 price tag, Apple is focusing on four key pillars: extreme durability, high-performance hardware, a virtually invisible display crease, and an ultra-thin “passport-shaped” chassis. Reports suggest the hinge may utilize liquid metal technology, while the display will leverage an advanced OLED panel produced by Samsung. However, the first-generation model may involve tactical trade-offs, such as a potential move to Touch ID over Face ID to maintain a sleek profile and the absence of a physical SIM slot in favor of a universal eSIM-only design.
This strategic shift comes at a pivotal moment as Apple faces an “AI credibility gap” and slowing growth in traditional smartphone sales. The foldable iPhone is the first of ten major new product categories planned under Ternus’s roadmap, which also includes AI-powered “Smart Glasses” and a tabletop home robot. While supply chain complexities mean the device will likely be in short supply initially, analysts predict the buzz surrounding the “Ternus Era” could propel Apple’s holiday quarter revenue to a record-breaking $150 billion. By marrying its new leader to a high-stakes, high-margin blockbuster, Apple is signaling that its next decade will be defined by bold hardware reinvention and a renewed focus on Jobs-style product excellence.
