Apple announced the iPhone Duo, its new foldable, double-screen iPhone featuring a massive display and upgraded camera features—the biggest update to its marquee product in years at new CEO John Ternus’s first launch event since taking over for Tim Cook.

Ternus announced the iPhone Duo at the company’s annual launch event, which it billed as the “thinnest” iPhone yet despite having a large 7.6-inch inner display screen and 5.4-inch outer display.

The device allows users to continue using its features as it is flipped or reoriented and quickly toggle between apps, and will support the popular Apple Pencil iPad tool later this year.

Prices for the iPhone Duo will start at $1,999, and the company said it will begin taking preorders on Oct. 16, and it will launch to the public by Oct. 23.

APPLE ALSO LAUNCHES iPHONE 18

The company also announced its new standard iPhone 18 models—preorders will begin for Apple’s new iPhone 18 Pro on Saturday, which will start at $1,199 for the Pro model and $1,299 for the larger Pro Max model. These represent a $100 price increase from the previous iPhone 17 Pro models. The new devices will be powered by Apple’s in-house A20 chips and have extended battery life. Apple has already raised prices on products multiple times this year, including MacBook laptops in March and June , and Cook previously told the Wall Street Journal further price hikes were “unavoidable” due to skyrocketing prices for memory chips, which the former CEO called a “hundred-year flood.”

New Devices Promise New AI Features

Much of Apple’s presentation focused on upcoming AI features in its new slate of products, many of which were previewed at the company’s Worldwide Developer’s Conference earlier this year. Apple was largely seen as falling behind in AI development compared to other legacy tech companies like Microsoft, although the company still reported record iPhone sales last year. “There’s no product in the world better designed to be your intelligent personal hub than iPhone,” Ternus said. In recent months, OpenAI has reportedly been designing its own personal AI device, and even brought on original iPhone designer Jony Ive after acquiring his design studio in May. Some of the notable new features previewed include “Siri Recap,” a feature for the new Apple Watch models that will take notes on users’ conversations and present them with notes on what was covered. Another Apple Watch feature is billed as “Live Rewind,” and will allow users to recall the last 15 seconds of a conversation. Apple said these devices will not create or store audio recordings of these conversations. The new cameras on new Apple devices will feature “Apple Reference Images,” a new feature intended to verify that images users capture are not generated by artificial intelligence.

Ternus, Apple’s former senior vice president for hardware engineering, officially took over for Cook last week. Cook’s tenure as CEO was much quieter than his predecessor Steve Jobs, but he managed to turn Apple into one of the most valuable companies in the world. Apple’s share price has risen over 2,000% since he took over in 2011. The company managed to ship over 3.1 billion iPhones since 2011, according to analysis by the Financial Times , and sales for the device now account for half of Apple’s revenue.