Apple will hold its next major product launch event on September 9, where it is expected to introduce a new iPhone lineup and potentially unveil its long-awaited foldable iPhone.

The event will be the first major product presentation under incoming CEO John Ternus, who is set to take over from Tim Cook on September 1. Cook will move into the role of executive chairman.

Apple’s expected entry into foldable smartphones could be strategically important as the company looks for new ways to raise average selling prices and improve margins. Analysts expect the device to feature a screen roughly comparable in size to an iPad mini when unfolded.

The foldable market is currently led by Samsung Electronics, but Apple’s arrival could accelerate adoption of the premium category. Research firm IDC expects Apple to ship more than 17 million foldable iPhones by 2027.

The launch comes as the broader smartphone market faces pressure from higher component costs and shortages of memory and storage chips. Apple has already raised prices across parts of its Mac and iPad ranges and recently warned that supply constraints could weigh on current-quarter sales.

Foldable devices are nevertheless expected to remain a growth segment. IDC forecasts foldable smartphone shipments to rise 12.6% this year, even as overall global smartphone shipments are projected to decline sharply.