Apple unveils first-ever foldable iPhone Duo

NEW: Apple unveils the iPhone Duo, its first-ever foldable, passport-shaped smartphone, with a 7.6-inch display and a starting price of $1,999, the first major launch under new CEO John Ternus.

Two thousand dollars for a phone that folds like a passport. Apple just went there.

It's called the iPhone Duo, the company's first ever foldable, and it opens up into a 7.6 inch display. This is also the first big swing from John Ternus, who took over as CEO from Tim Cook just last week. New boss, week one, and he walks out holding the most expensive iPhone Apple has ever launched. That's a statement.

And it's a late one. Samsung has been folding phones for years while Apple sat back and watched everyone else work out the creases. That's the classic Apple play, arrive last, charge the most, and bet the brand carries it.

So the real test isn't the hinge. It's whether people who already own a perfectly good iPhone will pay two grand to have it bend. Ternus just tied his first chapter to that answer.

This is Angel Manalo, reporting for HIT.