Apple is expected to announce its first foldable iPhone at a September 9 event. Market research firm IDC forecasts over 10 million foldable iPhone shipments in its first year. This device is anticipated to be priced around $2,500. Apple's entry into the foldable market, pioneered by others years ago, is projected to boost the overall foldable phone market growth. IDC predicts Apple could hold approximately 40% of the global foldable shipments by 2027. This launch occurs as global smartphone shipments face a significant decline. Rising costs for components, particularly those used in AI, are contributing to this trend. The era of affordable smartphones appears to be over due to these cost increases. Despite the high price, consumers may still adopt expensive devices due to flexible payment plans. However, consumers are holding onto their smartphones for longer periods, which will impact upgrade cycles.