Apple(US:AAPL) Hua Er Jie Jian Wen·2025-07-15 07:01Core Viewpoint - Apple's first foldable iPhone is expected to be released in the second half of 2026, with a starting price of $1,800 [1] Group 1: Product and Pricing - The foldable iPhone will utilize Samsung Display's (SDC) wrinkle-free display design instead of Apple's own solution, ensuring mass production by the second half of 2026 [1] - The estimated bill of materials (BOM) cost for the iPhone Fold is approximately $759, which is 4% lower than the Samsung Z Fold SE [1] - Initial production is expected to be limited to 10-15 million units due to the technical complexity and high price point of foldable devices [1] Group 2: Supply Chain Dynamics - The adoption of SDC's design will reshape the supply chain, with Fine M-Tec being the largest beneficiary as a supplier of metal plates for the displays, expected to ship 13-15 million units starting Q1 2026 [2] - The unit price for the metal plates is projected to be around $30-35, significantly higher than traditional products priced at about $20 [2] - Samsung Display is anticipated to be the main supplier of 7-inch foldable OLED panels, with an annual capacity of 15 million units, while LG Display may also serve as an alternative supplier [2] Group 3: Market Response - Fine M-Tec's stock surged, reaching a closing increase of 29.83% to 9,270 KRW on the KOSDAQ market, driven by investor optimism regarding the foldable iPhone [3] - Analysts predict that the launch of the foldable iPhone will have a positive ripple effect across the supply chain, benefiting companies like Amphenol, Hirose, TDK, and Samsung SDI, which are currently trading below historical valuation averages [6] Group 4: Market Trends - The global foldable smartphone market is showing signs of fatigue, with growth slowing and a projected decline in 2025 due to high prices and concerns over durability and usability [6] - Samsung maintains a leading position in this segment with the most comprehensive foldable product line, while brands like OPPO, OnePlus, Google, Motorola, Honor, and Vivo are introducing unique foldable designs [6]