Apple Unveils the iPhone Duo, a Foldable Phone That Costs $1,999

Apple introduced a foldable iPhone on Wednesday, making the most significant change in 19 years to the company’s most important product.

During a 75-minute recorded presentation at its headquarters in Cupertino, Calif., Apple unveiled the iPhone Duo, a foldable smartphone with a bendable display that opens and closes like a book. When folded, it will be similar in size to a passport. When it’s open, consumers will be able to use two apps at the same time across a larger display. The phone will start at $1,999 and will be available on Oct. 23.

“Others have created foldables that just feel like two phones awkwardly stuck together,” said John Ternus, Apple’s new chief executive. The new Apple phone, he added, “will redesign the experience of using a foldable phone.”

Foldable smartphones have been commercially available since 2018, but the category has not yet made inroads with consumers. Last year, consumer electronics companies shipped nearly 20 million foldable phones — or less than 2 percent of all smartphone shipments — according to Counterpoint Research, which tracks smartphone markets.

Apple’s product event on Wednesday was Mr. Ternus’s first since taking over leadership of the company. He was the company’s head of hardware engineering before succeeding Tim Cook as chief executive last week. In the recorded presentation, Mr. Ternus emphasized Apple’s work on artificial intelligence and described iPhones as the ideal device to be a “personal intelligent hub.”