Apple Inc.'s first foldable iPhone is on track to arrive in September, alongside the iPhone 18 Pro and Pro Max, despite concerns about manufacturing snags.
According to people with knowledge of the matter, the company is scheduled to introduce the foldable model in September, with iPhones typically hitting store shelves the week after they're unveiled.
Apple shares fell 5.1% after a report from Nikkei Asia raised concerns about a delay, but the company is currently operating with a plan to put the device on sale around the same time as the new non-foldable models.
The foldable iPhone is a major initiative for Apple, aiming to expand the iPhone line with new designs, pricier models, and enhanced features, to better compete with Samsung and Chinese smartphone makers.
The device will have a wide display orientation when opened in landscape view, making it more effective for watching video and gaming, and will include an updated iOS operating system to make iPhone apps look like iPad apps.
The product's price is expected to cross the $2,000 threshold, but should boost Apple's average sales price and fuel revenue growth.
