Fold the phone: Apple's new CEO unveils a foldable iPhone

Apple CEO John Ternus holds the iPhone Duo during Apple's "Surprise and Shine" event at the company's corporate headquarters, Apple Park, on September 9, 2026 in Cupertino, California. The event featured Apple product announcements and was Apple CEO John Ternus's first keynote address in his new role. Benjamin Fanjoy/Getty Images North America hide caption

A new era unfolded at Apple on Wednesday with its new CEO unveiling an iPhone the size of a passport that, well, folds.

The device, called iPhone Duo, represents the most radical physical change to the iconic iPhone since Apple introduced the minimalist glass slab to the world nearly 20 years ago, kicking off the smartphone era.

Apple's folding iPhone Duo can be opened and closed like a passport. Apple hide caption

The Duo, likely in development for years, was no doubt timed to launch the tenure of CEO John Ternus with a statement about hardware and product design. Ternus took over from Tim Cook at the start of the month.

While Cook was praised for his business acumen — Apple's market cap grew nearly 13-fold during his decade and a half at the helm — critics say Apple's gadgets haven't had the same "wow factor" that they did under the late visionary leader Steve Jobs, who introduced the first iPod, iPad and iPhone.

Analysts say Ternus, a mechanical engineer by training, may bring some of that back, having spent the bulk of his career at Apple on the product side.

And nearly an hour into a livestream introducing updates to existing product lines, like AirPods, Ternus echoed a trademark line that Jobs used before big announcements in product keynotes, saying, "But actually, there is one more thing," before announcing the foldable iPhone.