Apple officially unveiled its iPhone 18 lineup today during a keynote event in Cupertino, California, marking the company’s first foray into foldable smartphones with the iPhone Ultra. The announcement coincided with the public debut of John Ternus, who succeeded Tim Cook as CEO on September 1, 2026. The event, titled Surprise and Shine, began at 1 p.m. ET and introduced three new models: the iPhone 18 Pro, iPhone 18 Pro Max, and the iPhone Ultra, alongside updates to the Apple Watch Series 12, Apple Watch Ultra 4, and AirPods 5.
Core Announcements and Specifications
The iPhone Ultra is Apple’s first foldable smartphone, featuring a 7.8-inch inner OLED display and a 5.4–5.5-inch cover display. It includes a 48MP main camera, 48MP ultra-wide camera, and a telephoto camera, with Touch ID integrated into the power button. The device is powered by Apple’s A20 Pro 2nm processor, paired with 12GB of RAM, and offers storage options ranging from 256GB to 2TB. The battery capacity is estimated between 4,900mAh and 5,800mAh, with MagSafe and Apple C2 modem connectivity. The iPhone Ultra will be available in titanium frames and priced between $1,999 and $2,299, with higher configurations reaching $2,699.
The iPhone 18 Pro and iPhone 18 Pro Max retain traditional designs but introduce upgrades. Both models feature the A20 Pro processor, 12GB RAM, and 48MP variable-aperture main cameras. The iPhone 18 Pro Max includes a 5,567mAh battery (or 5,391mAh for the China variant), while the iPhone 18 Pro has a 4,288mAh battery. Pricing for the iPhone 18 Pro starts at $1,299, and the iPhone 18 Pro Max begins at $1,399. Both models are available in Dark Cherry, Light Blue, Silver, and Dark Grey.
Strategic and Market Context
The introduction of the iPhone Ultra follows years of internal development, codenamed V68, which began under Tim Cook’s leadership. Cook reportedly prioritized the foldable category after observing consumer adoption in Asia, where rivals like Samsung and Huawei had already established a presence. The project initially explored a folding iPad mini before pivoting to a smartphone design intended for mass-market appeal.
Apple’s pricing strategy for the iPhone Ultra reflects broader market pressures, including a global memory chip shortage that has driven up production costs. Analysts note that the $1,999 starting price is positioned just below the $2,000 psychological threshold, a tactic Apple previously used with the iPhone X in 2017. The company also emphasized AI advancements, including upgrades to Siri, as part of its efforts to compete with rivals like Alphabet and Microsoft in the artificial intelligence space.
Additional Updates and Future Plans
Beyond the iPhone lineup, Apple announced updates to its Apple Watch Series 12 and Apple Watch Ultra 4, as well as the AirPods 5, which may include new health-focused features. The company also hinted at refreshed Apple TV 4K and HomePod mini models, along with a new home hub device featuring a 7-inch display.
Event Timing and Leadership Transition
The keynote marked John Ternus’s first major public appearance as CEO, following his appointment to replace Tim Cook. Analysts suggest Ternus faces the dual challenge of sustaining Apple’s execution and monetization while positioning the company for future disruptions, such as the potential decline of the smartphone as the primary consumer device. The event’s theme, Surprise and Shine, underscored Apple’s attempt to redefine its innovation narrative amid slowing iPhone sales and intensifying competition in AI and foldable technology.