With a simple "Hello," Apple embarks on the Ternus era!

In the early hours of September 10 (Beijing Time), Apple hosted its autumn new product launch event at the Steve Jobs Theater in Apple Park, under the theme "Surprise and shine."

During this highly anticipated gathering, Ternus, in a composed yet captivating manner, unveiled Apple's upcoming product lineup to a global audience. As the new CEO succeeding Tim Cook, he refrained from making drastic changes, instead emphasizing the notion of "evolving through tradition."

This launch event not only marked Ternus's inaugural autumn showcase as CEO but also provided the first glimpse into the strategic thinking of Apple's new leader. The new management's decisions and compromises regarding product design, pricing strategy, and release schedule were scrutinized on the global stage for the first time.

At the event, an iPhone Duo featuring a seamless dual-screen foldable design slowly ascended, its flexible display area approaching tablet size when unfolded, eliciting gasps of admiration from the audience. Ternus stated that this device embodies Apple's new vision for mobile form factors and officially commences the next decade of hardware innovation for the brand.

Zijin Finance believes that the debut of the foldable iPhone Duo is undoubtedly the highlight, marking Apple's long-awaited formal entry into the foldable smartphone market and representing the most significant hardware form factor change for the iPhone since the full-screen revolution of the iPhone X in 2017.

In addition to the foldable smartphone, Apple also introduced several other major new products at the event, including the iPhone 18 Pro series, Apple Watch Series 12, Apple Watch Ultra 4, and AirPods 5.

Foldable iPhone Duo: The Priciest iPhone Yet, Arriving Late but Not Absent

The most captivating product at this launch event was undoubtedly Apple's first foldable smartphone. The final name did not adopt the previously rumored "iPhone Ultra" but was settled as iPhone Duo.

This marks the first time since the iPhone X in 2017 that the iPhone has embraced an entirely new form factor: a horizontal book-style fold. When closed, the external screen measures approximately 5.4 inches, and when unfolded, the internal screen is about 7.6 inches, 50% larger than the iPhone 18 Pro Max and 80% larger than the iPhone 18 Pro, making it the iPhone with the largest display size.

Apple's new CEO, John Ternus, stated that the Duo represents one of the most transformative designs for the iPhone since the first-generation model. He candidly stated that existing foldable smartphones offer a "clumsy" user experience, claiming that the Duo attempts to pack an iPad-like experience into a pocket-sized device through a custom hinge, dual-screen design, and titanium body.

In terms of hardware specifications, the new foldable device is powered by the TSMC 2nm process A20 Pro chip and is the first to feature Apple's self-developed C2 5G baseband. Additionally, to accommodate a larger battery and extend battery life, the physical SIM card slot has been completely removed from the iPhone Duo, fully transitioning to eSIM (embedded SIM technology).

Apple's research and development into foldable devices began long before Cook took over as CEO. A 2011 patent revealed that Apple was already developing a hinge structure at the time. According to insiders, Apple's engineering and display teams began experimenting with foldable technology as early as 2018. The launch of the iPhone Duo marks the first formal delivery of this lengthy technological accumulation.

In terms of pricing, the iPhone Duo is available in two colors—Stellar White and Night Sky—starting at 15,999 yuan for the Chinese market, making it the most expensive iPhone ever. Pre-orders begin at 8 PM on October 16, with official sales starting on October 23. The device supports eSIM globally, and users in mainland China will need to visit offline stores to verify their identity for activation.

In addition to the iPhone Duo, the iPhone 18 Pro series made its debut as a regular iterative flagship, featuring significant improvements in its imaging system and on-device AI capabilities compared to the previous generation, continuing Apple's refinement of the straight-flagship experience. Overall, Ternus's debut did not radically disrupt the product matrix but instead used the Duo to anchor a form factor transformation while releasing clear signals of "innovating while preserving tradition."

iPhone 18 Pro Series: Steady Performance Iteration, Shift in Release Rhythm

Besides the new foldable smartphone, the iPhone 18 Pro series remained one of the core products at this launch event.

In terms of design, the iPhone 18 Pro and iPhone 18 Pro Max continue the flat-edged titanium mid-frame design, upgraded with a new generation of matte anti-fingerprint finish. The rear camera module has been optimized for a more integrated look, with a narrower lens protrusion compared to the previous generation, resulting in a cleaner visual appearance. Both models share four color options: Deep Space Black, Titanium Silver, Glacier Blue, and a new Burgundy Wine Red.

The core upgrade comes from the A20 Pro chip, built on a 2nm process. It features a 6-core CPU and 7-core GPU, delivering up to 40% higher graphics performance compared to the iPhone 17 Pro. With a dual 16-core Neural Engine and a 50% increase in memory bandwidth, it supports hardware-accelerated ray tracing. It also integrates Apple's self-developed C2 baseband, offering up to 50% faster upload speeds compared to the C1X. The chip's package design, inspired by the M-series chips, directly connects the silicon and memory to the vapor chamber, further enhancing heat dissipation.

Imaging is another key upgrade at this launch event. The iPhone 18 Pro is equipped with a new 48-megapixel fused primary camera and features a physical variable aperture for the first time, with four adjustable stops. Low-light performance has improved by 50%, and it supports up to 8x optical-quality zoom. Video capabilities have been upgraded to 4K 120fps Dolby Vision, supporting ProRes RAW and Apple Log 2.

In terms of battery life, the iPhone 18 Pro Max offers up to 43 hours of video playback, the longest ever for an iPhone.

Pricing-wise, the iPhone 18 Pro starts at 9,999 yuan for the Chinese market, while the iPhone 18 Pro Max starts at 10,999 yuan (or $1,199 and $1,299, respectively, in the U.S. market), available in storage options ranging from 256GB to 2TB. Pre-orders begin on September 12, with official sales starting on September 18.

Notably, Apple is adjusting its release rhythm. The much-anticipated standard iPhone 18 is expected to be delayed until spring 2027. This means Apple will adopt a new dual-season release strategy: focusing on high-end product lines like the Pro series and foldable devices in the fall, while using the standard version to cover the mass market in the spring.

This adjustment in rhythm reflects not only a change in product strategy but also Apple's intention to find new growth points in a mature market. Analysts point out that amid narrowing premium pricing space for high-end models and prolonged global replacement cycles, Apple is maintaining brand momentum through form factor innovation and rhythm restructuring.

In summary, with the formal entry of the iPhone Duo and iPhone 18 Pro series into the smartphone arena, the long-standing market advantage accumulated by Android vendors may face direct impact. The effectiveness of the dual-season release strategy remains to be validated by data from the first full sales cycle.

Wearable and Audio New Products: Further Enhancing Ecosystem Synergy

Beyond smartphones, Apple also made concentrated updates to its wearable and audio product lines, covering both daily use and professional sports scenarios.

In the audio category, the AirPods 5 made its debut, powered by the H3 chip and supporting active noise cancellation and Siri AI functionality. With noise cancellation enabled, it offers up to 6 hours of battery life. Priced at $129, the version with a wireless charging case is available for $149, with official sales starting on September 18.

The watch lineup saw dual upgrades. The Apple Watch Series 12 introduces a new health sensing system, paired with the self-developed S11 chip, offering higher-frequency heart rate tracking. The aluminum version starts at 2,999 yuan, the titanium version at 5,799 yuan, and the ceramic version at 7,499 yuan.

The Apple Watch Ultra 4 also features the new health sensing system, with a larger electrode surface area for better skin contact during ECG measurements. Heart rate sampling frequency has increased to once every 5 seconds, 60 times faster than the previous generation, and it supports heart rate variability monitoring every 5 minutes. Priced at 6,499 yuan.

Both watches go on sale on September 18, forming a synergistic wearable ecosystem combination with the AirPods 5, further completing Apple's ecosystem puzzle in health monitoring and smart audio.

Notably, this launch event did not mention update plans for next-generation iPads, Macs, or Vision Pro products, indicating that Apple's current resources are clearly tilted toward the iPhone lineup and wearable ecosystem.

New CEO Ternus's Strategic Signals: Foldable Devices, Dual-Season Rhythm, and the AI Proposition

On September 1 this year, Apple officially completed its management transition, with John Ternus succeeding Tim Cook as the new CEO. Cook transitioned to the role of Executive Chairman, marking the formal end of the 15-year Cook era.

Ternus previously served as Apple's Senior Vice President of Hardware Engineering, having worked at Apple for over 25 years and participated in the development of products like the iPhone, Apple Watch, AirPods, and Vision Pro. After Cook's transition to Executive Chairman, he will still be involved in some policy and external affairs, meaning Apple aims to achieve a smooth leadership transition while maintaining strategic continuity as much as possible.

This launch event represents Ternus's first report card since taking office. From this event, his strategic blueprint has begun to take shape.

In terms of product form factors, the launch of the foldable Duo indicates that Apple is attempting to open up incremental space in the high-end market through "form factor innovation," although its starting price of 15,999 yuan destines it to play a supplementary role above the flagship lineup in the short term.

In terms of release rhythm, the delay of the standard iPhone to spring means Apple intends to further premiumize its autumn launch events, using the time difference to extend the market exclusivity period for high-end products.

In terms of AI capabilities, the timeline for Apple Intelligence in the Chinese market remains unclear, and the gap in system-level AI experience compared to competitors is a proposition Ternus needs to address promptly.

From Cook to Ternus, Apple has completed a smooth management transition. However, the real test lies in whether Ternus can find the next growth narrative for Apple in a cycle of incremental logic amid rising storage costs, scattered product release rhythms, and AI feature rollouts falling short of expectations.

Many of the moves at this launch event are essentially proactive choices made by Ternus in an uncertain environment. The trial of foldable devices, the expansion of the dual-season rhythm, and the completion of the wearable ecosystem collectively form a defensive and offensive layout in his early days at the helm.

However, compared to the clear planning in hardware, global software and service synergies pose a more daunting challenge, especially given regulatory and infrastructure differences across markets, which will continuously test the new CEO's balancing act. For Apple, the leadership transition is complete, but strategic validation has only just begun.