Apple's new CEO John Ternus expected to debut foldable iPhone at event Wednesday

Apple will kick off a new era on Wednesday when CEO John Ternus takes the stage for the first time for the company's annual iPhone launch event.

Ternus, who took over from former CEO Tim Cook on Sept. 1, is widely expected to oversee the debut of Apple's first foldable iPhone, as well as upgrades to its iPhone 18 Pro models and Apple Watch lineup.

According to Bloomberg's Mark Gurman , the foldable iPhone will offer the same styling as other leading foldables, such as those from Samsung, though it will also carry a hefty price tag that could eclipse the $2,000 mark.

Samsung's Galaxy Z Fold 8, which features a passport-like design, starts at $1,899, while its higher-end Z Fold 8 Ultra starts at $2,099.

A foldable iPhone could draw considerable interest from customers looking for something different from the standard candy-bar-style phone.

And though the price may turn off many, the foldable's high price could make it worthwhile for the company if even a fraction of its loyal supporters buy it.

In addition to the foldable, Apple is expected to show off its latest iPhone 18 Pro models. Those will likely get the company's latest A series processor, as well as camera improvements, including an upgraded aperture to better control lighting.

Apple refreshed the look of the Pro lineup with the iPhone 17, so it's unlikely to make any major cosmetic changes to this year's offerings.

It's unclear if Apple will launch its standard iPhone 18 models this time around. The enthusiast site MacRumors , citing Economic Daily News , says the company could launch the base iPhone 18 early next year alongside the iPhone 18e and the second-generation iPhone Air.

The move would amount to a major shift in Apple's iPhone strategy. It traditionally debuts its base iPhones and Pros at the same time each year. But separating those launches could also reduce lumpiness in the company's seasonal revenue by spreading out sales across a broader timeline.

Beyond the new phones, Apple is expected to debut its Apple Watch Series 12 and Apple Watch Ultra 4 , Gurman reported. The watches should get internal updates as well as software improvements.

What to know as John Ternus steps into the CEO role

Everything you need to know about new Apple CEO John Ternus

Tim Cook's biggest hits and misses as Apple CEO

$32 million: The number incoming Apple CEO John Ternus has to beat

Apple is facing increased competition in the fitness and health space from companies like Oura, which sells its eponymous ring tracker, among others. Samsung also sells a line of rings. That could force Apple to evolve its devices and software to ensure it doesn't bleed users looking for more from their devices.

Then there's Ternus himself. Everyone will be watching to see what he brings to the event, and Yahoo Finance will be there on the ground to see it all.

Email Daniel Howley at dhowley@yahoofinance.com. Follow him on Twitter at @DanielHowley .