Apple (AAPL) is expected to reignite growth in the foldable smartphone category when it debuts its first foldable iPhone in September, with shipments forecast to exceed 17 million units or roughly 40% of the global foldables market by 2027, IDC said Wednesday.

The company is expected to ship more than 10 million units in its first year alone, Bloomberg reported, citing IDC.

Apple's foldable iPhone is expected to launch in September with an average selling price of over $2,550, IDC senior research director Nabila Popal said. At this price, Popal said Apple is expected to generate more than $45.7 billion in value and capture more than half of the total value of the foldables category.

IDC said that without Apple, foldable shipments are projected to decline at a double-digit rate year over year. The broader smartphone market is expected to decline by 16.7% in 2026 as rising memory chip costs push up prices, IDC said.

Apple did not immediately respond to MT Newswires' request for comment.

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