Apple held its annual product launch event on Wednesday, with CEO John Ternus — in his first annual launch event at the helm — walking through a lineup that stretches from a $129 pair of earbuds to a $1,999 foldable phone. Apple's stock fell about 2% near the end of the presentation before recovering later that afternoon.
iPhone Duo: Apple's first foldable, $1,999
The headline product is the iPhone Duo, Apple's first foldable phone. Closed, it runs a 5.4-inch OLED display; open, it expands to a 7.6-inch flexible OLED panel that Ternus compared to an iPad in feel. The titanium frame carries IP68 dust and water resistance, weighs 254 grams, and measures 11.3mm when closed. It supports Apple Pencil on both screens and includes an under-display FaceTime camera on the interior panel. Pre-orders open October 16; availability begins October 23. Samsung, which launched its first foldable in 2019, posted on X: 'Let us know when you're done reheating our leftovers.'
iPhone 18 Pro and Pro Max: prices up $100
Apple said it is raising iPhone prices $100 across the board, citing an ongoing memory shortage. The iPhone 18 Pro starts at $1,199 ($49.95/month); the Pro Max starts at $1,299 ($54.12/month for 24 months). Both ship in 256GB, 512GB, 1TB, and 2TB configurations. Pre-orders open September 12; availability begins September 18. Camera upgrades include a variable-aperture system using six laser-cut blades, each thinner than a human hair, that automatically adjust to lighting conditions.
Apple Watch Series 12 and Apple Watch Ultra 4
Both new watch models measure heart rate every five seconds and deliver what Apple calls 'the most accurate heart rate sensing in a wearable.' Heart rate variability tracking is also improved across both recovery and overall HRV metrics.
Health Age
A new Health app feature called Health Age uses Apple Watch data — including sleep patterns and blood composition — to show how key health metrics align with a user's actual age. VP of health and fitness Sumbul Ahmad Desai described it as 'a simple way to discover how key health metrics align with your actual age.'
Audio Intelligence: Watch plus paired iPhone
The new Audio Intelligence suite uses the Apple Watch's microphone, the S11 chip, and Apple Intelligence models running on a paired iPhone to transcribe conversations up to 15 seconds back, identify nearby sounds, and flag alerts. Apple says no audio recordings are created or stored and speakers are not identified. VP of sensing and connectivity Ron Huang noted: 'Apple Watch is always on your wrist — it's the perfect device to stay aware of the sounds around you.'
Siri AI beta: September 14, English first
Siri AI — the revamped assistant Apple first announced in June — begins rolling out in beta on September 14, initially in English. It draws on personal context, can surface a dinner reservation buried in an email, and works on Apple Watches dating back to the 2023 Series 9 when paired with a compatible iPhone.
AirPods 5: $129, active noise cancellation
AirPods 5 start at $129 and block up to 50% more external noise than the prior noise-canceling model. They add hands-free Siri AI and live translation. A $149 version includes a wireless charging case, longer battery life, and on-stem volume sliders.
AirPods Pro with cameras: delayed to 2027
Rumored camera-equipped AirPods Pro did not appear. According to Bloomberg's Gurman, they are delayed until 2027.
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For founders watching the hardware cycle, the $100 across-the-board price increase on iPhones is the number that matters most to your cost structure — whether you're building accessories, apps, or enterprise tools on Apple's platform. Higher device prices compress the addressable market at the entry level, but they also signal that Apple's customers skew toward buyers who absorb price increases without churning. The iPhone Duo at $1,999 is a bet on that same premium segment. If your product roadmap depends on foldable-screen real estate, October 23 is your new ship date.
