Apple to unveil next iPhone on September 9 in first major event under CEO Ternus

Apple AAPL.O is set to host its next launch event on September 9, where the company is expected to unveil its newest iPhone series and potentially its long-awaited foldable phone.

The first foldable iPhone is expected to be a crucial landmark for Apple, with analysts saying that the high-end devices would be the main driver of higher selling prices and margin growth for the company.

The launch would also mark incoming Apple CEO John Ternus's first major event. Ternus, Apple's longtime hardware chief, is set to take the helm at the company on September 1, as Tim Cook transitions to the role of executive chairman.

Ternus's appointment, announced in April, was widely regarded as a sign of Apple's renewed push to building on its core strength in devices.

Currently, Samsung Electronics 005930.KS dominates the niche but growing foldable smartphone market, which companies are betting would soon become mainstream despite their premium price tags.

Foldable phones are expected to be a bright spot for consumer electronics companies that have faced a setback due to a severe shortage of memory and storage chips that resulted in price hikes and dampened overall consumer demand.

Apple has also lifted prices across its Mac and iPad line-ups to offset the soaring costs. Still, the company said in July it was facing "very significant" supply chain shortages and predicted the snags would dampen sales in the current quarter.

Analysts expect Apple to launch a foldable iPhone with a screen similar in size to an iPad mini. Earlier this year, Samsung unveiled a new passport-sized foldable phone as the South Korean tech giant seeks to defend its foothold against Apple.

Apple is expected to ship more than 17 million foldable iPhones by 2027, according to research firm IDC.

Its entry into the market is also key to driving growth, with IDC predicting a 12.6% jump in foldable phone shipments this year. In comparison, global smartphone shipments are expected to see a record 16.7% decline.

Last year, at its launch event, Apple unveiled a slimmer iPhone Air and loaded its iPhone 17 base models with several better features. The iPhone 17 line-up helped drive a strong upgrade cycle among consumers.

-Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli/Reuters