Apple eyes way to cash in on maturing iPhone users

This spate of roll-outs relates heavily to maturity: more than 90% of Americans own a smartphone, according to Pew Research. Saturation matters for Apple: the iPhone generates over half its revenue, and is pivotal to the company's success 18 years after introducing the first model. Services now account for more than a quarter of the top line.

It makes sense, therefore, to court aging buyers. When the iPhone debuted in 2007, 45% of the population was 40 or older, Census data show. Now, it’s 49%. In absolute terms, that’s 30 million more people in the range. Moreover, Millennials, or anyone born between 1981 and 1996, are the biggest U.S. generation, and just starting to hit the age when most need bifocals.

An iPhone small enough to fit in a pocket with an accessible bigger screen would be useful when reading small print. Larger displays are more comfortable and allow for easier-to-read fonts. Foldables are so linked to older users that in Korea, Samsung's Galaxy versions were nicknamed "ajae," slang for an over-the-hill, un-hip man.

An added bonus is that middle-aged shoppers tend to be wealthier. The new iPhone will likely cost more than $2,000. Assuming the supply chain doesn’t encounter problems, sales should be easy to spot in the upcoming holiday quarter, with or without glasses.

Apple AAPL.O is set to reveal its latest iPhone on Wednesday, and it’s expected to be foldable. While there’s a novelty factor to an origami-style device with a typical screen for on-the-go use and a double-sized one for dedicated viewing, this is more about the $4.6 trillion company’s aging customers. It’s the modern version of bifocals.

The closely watched spectacle will be the first for boss John Ternus since he took over from Tim Cook. The folding form is taking off: Samsung makes a similar product and China's Huawei and Xiaomi unveiled versions earlier this week. Apple will capture nearly a third of the market segment this year, and 40% in 2027, research outfit IDC forecasts.