Apple's most aggressive iPhone refresh in a decade will span six models across two launch waves in 2027, including a foldable Ultra 2 that the company has told suppliers to prepare for 10 million units — up from an earlier 7 million to 8 million target.
Apple's most aggressive iPhone refresh in a decade will span six models across two launch waves in 2027, including a foldable Ultra 2 that the company has told suppliers to prepare for 10 million units — up from an earlier 7 million to 8 million target.
Apple has mapped out at least five new iPhone models through early 2027, with a sixth arriving later in the year, according to a Nikkei Asia report Thursday. The Cupertino, California-based company has also raised its foldable iPhone production target to 10 million units, signaling growing confidence in the form factor as it prepares to enter a market dominated by Samsung Electronics and Huawei Technologies.
"The foldable category is the fastest-growing segment in premium smartphones, and Apple's entry at 10 million units signals they see a real market opportunity," said Rachel Kim, semiconductor supply chain analyst at Edgen. "The production target is aggressive for a first-generation product and suggests Apple expects strong demand."
The 2027 lineup breaks into two waves. The first three models — iPhone Air 2 (6.55-inch, 120Hz LTPO OLED), iPhone 18 (6.3-inch, 120Hz LTPO OLED), and iPhone 18e (6.12-inch, 60Hz LTPS OLED) — are expected by March, according to leaker Digital Chat Station. The iPhone 18e retains a 60Hz display, meaning Apple's entry-level model will again skip ProMotion despite the broader refresh. The second wave arrives in September with iPhone 19 Pro and Pro Max models featuring a radical 20th-anniversary redesign, plus the foldable iPhone Ultra 2.
Foldable Ambition and Supply Chain Pressure
Apple's decision to boost foldable production to 10 million units from an earlier 7 million to 8 million forecast puts it in direct competition with Samsung, which shipped roughly 12 million foldable devices in 2025, and Huawei, which has rapidly expanded its foldable lineup in China. The foldable smartphone market grew 37% year-over-year in 2025 to about 25 million units, according to IDC data, making it one of the few growth pockets in a maturing global smartphone market.
The production ramp comes as Apple navigates rising component costs. The company recently raised prices on several Mac and iPad models, citing higher expenses for memory and storage chips. Apple executives have warned that if component prices continue climbing, future iPhone models could face price increases as well. The company is exploring Chinese-made memory chips from CXMT and YMTC as a potential cost-saving measure, according to the Nikkei report, a move that could reshape supply chain dynamics if adopted.
Investment Implications
Apple shares have gained roughly 18% over the past 12 months, giving the company a market capitalization above $3.5 trillion. The expanded product roadmap through 2027 reduces near-term uncertainty for investors, while the foldable iPhone production target offers a tangible volume benchmark to track. Samsung's foldable business has generated estimated gross margins of 15% to 20%, suggesting Apple's entry could add $3 billion to $5 billion in annual revenue at the 10 million unit run rate, assuming a $1,500-plus average selling price. However, the Chinese chip sourcing exploration introduces regulatory risk, particularly given ongoing US-China technology export controls. Investors will watch Apple's September 2026 earnings call for any official commentary on the foldable timeline and component cost mitigation strategies.
This article is for informational purposes only and does not constitute investment advice.
