Apple has officially declared that John Ternus, presently serving as the Senior Vice President of Hardware Engineering, is set to take on the role of Chief Executive Officer on September 1, 2026. Meanwhile, the current CEO, Tim Cook, will shift to the position of Executive Chairman of the Board. According to the well - known Apple insider Mark Gurman, right after Ternus takes up his new post, he will introduce Apple’s inaugural foldable smartphone, the iPhone Ultra. This device is anticipated to be priced at around $2,000. It boasts a horizontally inward - folding design and an internal display measuring approximately 7.7 inches. It is slated to make its grand entrance alongside the iPhone 18 Pro series.
