Apple is preparing for a closely watched product launch on September 9, expected to introduce the iPhone 18 Pro, iPhone 18 Pro Max, and its first foldable iPhone. The event is the first major product launch overseen by new CEO John Ternus, following the iPhone 17 lineup's market share gains despite a broader industry downturn.
Foldable iPhone and premium strategy: Apple's first foldable, potentially called the iPhone Ultra, would be the company's first new iPhone form factor since 2017. Industry estimates put its starting price at around $2,000, with higher-storage versions potentially reaching $3,000. Prediction-market traders on Polymarket assigned an 87% probability to a starting price of at least $2,000, with the most likely price between $2,200 and $2,300. Reported specifications include a book-style design, a 5.3- to 5.5-inch outer display, a 7.6- to 7.8-inch inner screen, a titanium frame and an ultra-thin design.
Huawei and Xiaomi move first: Just before Apple's event, Huawei unveiled the Mate XT2 in China on Monday, with sales set to begin September 10. It folds twice into a tablet-sized device with a 10.2-inch display, a redesigned hinge, a roughly 6,000mAh battery and HarmonyOS 7. It runs Huawei's Kirin 9050 Pro, a flagship chip built on the company's own process. Xiaomi followed later the same day with the 18 Fold, priced around 8,999 yuan. It features a 7.6-inch folding display, a 200MP main camera, 67W wired charging and Xiaomi's custom Xring O3 processor.
China competition and market context: Huawei led smartphone shipments in China in the second quarter of 2026 with 23% share, compared with Apple's 18%, up from 18% a year earlier. On foldables specifically, Huawei held 68% of Chinese shipments last quarter, according to Smart Analytics Global. The Mate XT2 has an expected price near 20,000 yuan, about $2,750, while Apple's foldable is expected to sell for more than $2,000. Citi expects Apple could sell about 7.3 million iPhone Ultra units by the first quarter of 2027.
Apple also faces supply-chain constraints and higher component costs linked to AI-driven memory shortages. Counterpoint Research associate director David Naranjo said Apple is focusing on premium SKUs to maximize revenue and protect margins. The iPhone 18 Pro models are expected to feature the A20 Pro chip based on a 2-nanometre process, alongside Apple Watch and AirPods updates.
