tech
Apple shares sink on report of foldable iPhone delays
The company is reportedly facing engineering challenges in the development of the foldable phones, which are anticipated to launch later this year.
TL;DR
- Apple shares fell due to reports of engineering challenges with its foldable iPhone.
- A source told Nikkei Asia that current solutions are insufficient and more time is needed.
- The foldable phone was expected to launch alongside the iPhone 18 in September 2026.
- A later report from Bloomberg suggested the phone is still on track for a September debut.
- Apple shares rebounded slightly after the Bloomberg report but were still down.
- April through early May is considered a critical period for resolving engineering issues before production.
- Samsung, a major competitor, launched its first foldable phone in 2019.
- iPhones are a significant revenue driver for Apple.
- The memory chip crunch is reportedly not a factor in the foldable phone's delay.