Apple begins folding phone event, with new CEO Ternus in command
AAPL•Apple launches annual product event in Cupertino
Apple kicked off its annual product launch event on Wednesday at its Cupertino, California, headquarters, where it is widely expected to unveil a pricey folding iPhone.
The event, the first with new CEO John Ternus at the helm, will be the most noticeable overhaul of Apple's flagship product since it removed the physical home button from the iPhone X in 2017. The iPhone brought in $209.6 billion, or just over half of Apple's sales, in its most recent fiscal year.
New product schedule may smooth Apple's sales cycle
Wednesday's event is also expected to mark a major change in Apple's annual product schedule.
While analysts expect Apple to show off new watches, they anticipate the company will hold off on updates to its more affordable iPhone models until next spring and instead focus only on the new folding device and its iPhone Pro and Pro Max lineup.
