An Apple logo hangs above the entrance to the Apple Store on 5th Avenue in the Manhattan borough of New York.
Mike Fresh | Reuters
Actions of Apple fell 4% on Tuesday after reports that the company faces engineering challenges with its highly anticipated Foldable iPhones.
“Apple and the supply chain are working under tight deadlines and current solutions are not enough to completely resolve the engineering challenges. … More time is needed,” said a person familiar with the matter. Nikkei Asia.
Apple, which celebrated its 50th anniversary last week, announced four new iPhone models during its Launch event in September every year since 2020. The foldable phone was scheduled to launch alongside the iPhone 18 in September 2026, but delays could change that timeline.
CNBC has contacted Apple for comment.
According to Nikkei, April to early May is considered a critical period for the iPhone maker to resolve engineering issues before production.
SamsungApple’s main rival in the American smartphone market, launched its first foldable phone in 2019. iPhone are a key revenue source for Apple, generating more than half of the company’s reported revenue of $143.8 billion for the first quarter of fiscal 2026.
Nikkei reported that the memory chip crisiswhich made it difficult to meet growing demand for iPhonedoes not play a role in the delay of the foldable phone.
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