The expensive foldable iPhone, the new Apple boss's big bet

Apple has unveiled its first foldable iPhone, marking the most significant design change to the product line in nearly two decades. The device, priced at $1,999, represents the company's entry into the dual-screen smartphone market. The announcement was made during a 75-minute recorded presentation held at the company's headquarters in Cupertino, California.

This launch coincides with a leadership transition at Apple, as John Ternus has assumed the role of chief executive officer following the resignation of Tim Cook. The introduction of the foldable model serves as the first major strategic initiative under Ternus's tenure as the head of the organization.