Apple Plans to Ship Over 10 Million Foldable iPhones in the First Year

Apple plans to ship over 10 million units of its foldable iPhone in the first year after its release, which is expected to save the foldable smartphone segment from decline. The device, designed in a "book" format, is anticipated to be unveiled in September. Despite a price tag of around $2,500, the new model is expected to be successful among elite consumers. Foldable smartphones have long remained a niche product, but Apple's entry is expected to give the segment a new boost and prevent a drop in shipments. The category is projected to grow by 12.6% this year and up to 18% next year. According to IDC forecasts, by 2027, Apple's share of the foldable smartphone market will reach 40%. Meanwhile, the global smartphone market is experiencing a downturn, with expected sales falling by 16.7% this year due to component shortages and rising chip prices. The increase in component costs will be reflected in the final price for consumers, marking the end of the era of cheap smartphones. It is also reported that Apple will showcase the new Mac mini before the iPhone 18.

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