‘Surprise and shine’: Apple to hold first major iPhone launch under new CEO next month

By Lisa Eadicicco, CNN

(CNN) — Apple’s new CEO is about to have his first big moment in the spotlight.

The tech giant announced it will hold an event on September 9, when it’s expected to reveal the biggest-ever change to its smartphone lineup: the first foldable iPhone. It’s the company’s first major product launch under John Ternus, who will take the reins from Tim Cook on September 1.

The event invitation includes the tagline “surprise and shine,” although it does not include any details about what Apple plans to announce.

Apple’s September event is widely considered to be the company’s most important moment of the year. The company will likely introduce other new phones and Apple Watches, as well.

But this year’s keynote will be about more than just new gadgets. It’ll also be the first opportunity for Ternus to lay out his vision for Apple.

Analysts expect Ternus to signal a fresh push into new AI-powered gadgets, given his hardware engineering background. That’s critical when Apple has been considered to be behind its peers in AI.

“Ternus could cement Apple’s device dominance in an AI enabled era,” Bank of America analysts wrote in an August research note.

A foldable iPhone would be the first major new hardware expansion under Ternus, according to Bloomberg. Samsung dominates the niche but growing market for foldable phones, but some analysts think an Apple model could boost those phones’ popularity.

Samsung agrees.

“I think the more visibility there is on the category, the better,” Drew Blackard, Samsung’s senior vice president of mobile product management, told CNN in July.

The iPhone is Apple’s most profitable product, accounting for roughly half of Apple’s revenue. A foldable model could entice more high-paying customers who would otherwise buy from Samsung or another rival. Foldable phones are generally pricier than standard smartphones, with Samsung’s Galaxy Z Fold 8 starting at nearly $2,000.

But an ongoing memory shortage has also caused Apple and other gadget makers to raise prices, with the tech giant marking up iPads, MacBooks and other products in July.

Some experts expect to see pricier iPhones in September.

“We should start thinking about a $1,500 iPhone instead of a $1,000 (or) $1,200 iPhone,” Mike Howard, vice president of memory coverage at research firm TechInsights, previously told CNN.

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