Business
Higher Prices, Variable Aperture Camera and a Foldable Phone Expected
Apple’s flagship smartphone hasn’t taken a year off from its updates since 2007, and barring a massive surprise, 2026 won’t be any different. The Cupertino-based tech giant is widely expected to launch a new lineup of iPhones later this year, including the new iPhone 18, the 18 Pro, and the rumored iPhone Ultra, the company’s first-ever foldable.
A September Launch, With a New CEO Taking the Stage
If you’re in the market for a new iPhone, you should circle September in your calendar. That has been the month for Apple’s big showcase event for a very long time, and there’s no reason to believe Apple will change that in 2026. Expect to see new Apple CEO John Ternus take the stage to introduce it; his term of office officially begins September 1.
A Price Increase Is Coming
Thanks to the ongoing RAM shortage caused by the AI industry, sometimes called “RAMageddon,” tons of smartphones, laptops, and gaming consoles are seeing huge price hikes. Experts who’ve spoken to Mashable say that trend isn’t going to stop anytime soon.
Outgoing Apple CEO Tim Cook took the unusual step of preparing customers for a pricier iPhone. “Price increases are unavoidable,” Cook told the Wall Street Journal in an interview. The Journal quoted an analysis showing that the memory chip components in the iPhone 18 Pro will cost Apple $150 more than those in the iPhone 17 Pro. The Journal estimated $1,299 for the iPhone 18 Pro, $200 more than last year’s model.
The Lineup of Models Expected
Barring a huge turn under Ternus, Apple will release a base iPhone 18, an iPhone 18 Pro, and an iPhone 18 Pro Max in late September or early October. Apple may also launch or announce a foldable iPhone alongside the normal iPhone 18 models, rumored to be called the iPhone Fold or iPhone Fold Ultra. It’s not strictly a member of the iPhone 18 family by name, but is expected to be unveiled around the same time.
Design: Evolution, Not Revolution
Apple has not released any official teasers or other imagery for the iPhone 18 lineup yet, so anything reported to date could be wrong. Still, from the sum total of all reports, it sounds like Apple isn’t really reinventing the wheel design-wise this cycle. But Ternus, a hardware guy, is reportedly bringing the company’s industrial design group into the center of Apple’s planning process. Looking further into the future, the iPhone 20 is said to bring bigger changes, including a curved waterfall display.
Display sizes are expected to remain roughly the same as last year: 6.3 inches for the iPhone 18, 6.3 inches for the iPhone 18 Pro, and 6.9 inches for the iPhone 18 Pro Max. However, display quality might differ this year. Prominent leaker Instant Digital shared on Chinese social media that Apple’s brightness demands are unusually high this year, suggesting much brighter displays than in previous years.
A Smaller Dynamic Island for the Base Model
The base iPhone 18 could also have a smaller camera bump compared to previous models. There are reports of a slightly redesigned Dynamic Island on the screen itself, with the pill-shaped notification hub potentially being made smaller in the iPhone 18 models. One alleged leaked image purports to show an iPhone 18 Pro with a downsized Dynamic Island cutout, though that smaller cutout reportedly applies only to the base model — Apple is expected to retain the bigger camera plateau seen on the iPhone 17 Pro for the iPhone 18 Pro specifically.
Color Options Already Leaking
For the iPhone 18 Pro, at least, it seems the color options have already leaked. Previous rumors indicated Apple was experimenting with a “deep red” color for the iPhone 18 Pro, and a report from MacWorld backs that up. According to that reporting, the color lineup for the iPhone 18 Pro will be silver, gray, light blue, and a color called “dark cherry,” likely the deep red previously reported. Fans of black iPhones appear to be out of luck again.
Hardware: Standardized RAM and New Chips
The lineup is expected to have a standardized 12GB RAM count across the board. In previous years, the Pro models had 12GB of RAM, while the base model had only 8GB. According to Korean outlet The Bell, Apple will be upgrading the base model so that it matches the Pro models in that regard. It’s also widely expected that Apple will adopt new A20 and A20 Pro chips for the base and Pro models, respectively, along with a new C2 modem for improved cellular connectivity, possible 5G satellite support, and a new N2 chip for better Wi-Fi performance.
A Bigger Battery for the Pro Models
For the iPhone 18 Pro, the current expectation is that Apple will improve the battery size in the premium iPhone 18 models this year. Leaker Digital Chat Station on Weibo reported that the batteries could exceed 5,000mAh, an improvement over the iPhone 17 Pro. Instant Digital also posted in a separate Weibo leak that the back glass of the iPhone 18 Pro has been altered, resulting in a new unified look, as opposed to the two-tone look of the iPhone 17 Pro.
Major Camera Upgrades Expected
Bloomberg’s Mark Gurman, a source of many spot-on iPhone reports, says the iPhone 18 Pro, in particular, will have “some of the biggest camera hardware upgrades in the lineup’s history.” The telephoto camera is expected to have a larger aperture, but more significant is a rumored variable aperture, first reported by Digital Chat Station on Weibo. Variable aperture would let the iPhone 18 Pro camera capture different amounts of light for different situations, potentially leading to a major leap in photo quality. For instance, the bokeh effect famously associated with portrait mode on iPhones would become possible in-camera rather than through software processing, resulting in more natural and generally better-looking shots.
What to Expect From AI Siri
One of the first things many users will want to know about the iPhone 18 is what the new, revamped, AI-upgraded Siri experience is like. Apple first promised users a newer, smarter, Apple Intelligence-powered Siri two years ago, and the company has since faced lawsuits after it failed to deliver, ultimately settling a class action suit related to those claims for $250 million.
Post-WWDC, more is now known about Apple Intelligence in general: Siri will understand what’s on a user’s screen, and the assistant will be smarter overall, powered by Gemini. Apple software chief Craig Federighi has also been clear about the boundaries of the new assistant’s personality. “Siri really wants to say, ‘I can help you get things done. I can help you learn about the world,’” Federighi said. “But if you try to engage Siri as a romantic partner, Siri’s not up for that. Siri’s 100 percent not into that.”
With Apple’s official announcement still months away, the coming weeks and months are likely to bring a continued stream of leaks and rumors as manufacturing partners and supply chain sources offer further glimpses into the iPhone 18 lineup’s final specifications. Given the scope of changes already reported — from standardized RAM and a variable aperture camera to a likely price increase tied to the broader RAM shortage — this year’s iPhone lineup appears positioned to represent a meaningful hardware and software upgrade, even as Apple has yet to confirm any of the details through official channels ahead of its expected September event.
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The price of oil has fallen to levels not seen since before the Iran war as traffic through the key Strait of Hormuz shipping route gradually resumes.
Global benchmark Brent crude briefly fell below, $72.48 ($55) a barrel, the price it was at the day before the US and Israel launched attacks on Iran on 28 February, before edging up to $72.63.
Energy prices have been on a wild ride since Iran responded to the strikes by effectively closing the strait, a critical waterway for oil and gas shipments.
The cost of crude has been moving sharply lower since the US and Iran signed a Memorandum of Understanding (MOU) on 17 June which set out a 60-day period for negotiations on Tehran’s nuclear programme and other measures to end the war.
Representatives from the two sides met in Switzerland last weekend for talks to end the war, which resulted in the US partially lifting sanctions on Iranian oil exports.
The number of vessels crossing the Strait of Hormuz has risen significantly since the MOU was signed, according to maritime intelligence firm Kpler.
The ships passing through the waterway in recent days include those carrying crude oil, liquefied natural gas (LNG), fertiliser and other goods, Kpler told the BBC.
The US and Iran had also formed a “communication line” to prevent misunderstandings “with the aim of safe passage for commercial vessels through the Strait of Hormuz”, mediators Qatar and Pakistan said in a joint statement on Monday.
There has been a “tremendous shift” with far more ships using the strait in recent days, said Dimitris Maniatis, the chief executive of Marisks, a maritime risk advisory firm working with ships stuck in the region.
His company estimates around 80 ships have crossed the Strait of Hormuz since Monday after the first round of peace talks between US and Iran in Switzerland.
A limited number of ships can cross a northern passageway with the permission of Iranian authorities, he said.
The US navy has also provided guidance for vessels to travel through a southern route that is safe from mines and other obstacles that has been laid out since the war, Maniatis said.
But the number of ships crossing the strait is still below levels seen before the war, when it was used by more than 100 ships a day.
Hundreds of ships still appear to be waiting in the Gulf.
Business
Commodity correction offers buying opportunity; defence, banking remain long-term bets: Dharmesh Kant
Copper, aluminium, crude oil and silver have all witnessed sharp declines over the past few sessions, dragging commodity stocks lower. However, Kant believes such corrections are a normal part of long-term commodity cycles.
“Commodity as an asset class is always like this. Whenever the upside is there, it continues for one or two years. We have already seen a major part of the upcycle, and normally it corrects and consolidates for a meaningful period,” he said.
According to Kant, demand fundamentals remain favourable. He expects industrial demand for metals such as aluminium, copper and zinc to strengthen as global economic activity improves. Silver, too, continues to enjoy structural support due to its widespread use in electric vehicles, electronics and renewable energy.
“Silver demand has an industrial connotation. Electric vehicles, electronics and solar panels all use silver, and demand is likely to compound at 15-17% CAGR going forward,” he said.
Given this backdrop, Kant believes quality commodity companies deserve fresh attention.
“This is a good opportunity to accumulate good-quality commodity stocks. One can look at Hindalco, Vedanta and JSW Steel. We still believe there is at least one to one-and-a-half years of the upcycle left,” he added.Lower Crude Prices to Aid Corporate Margins
Kant also expects the sharp decline in crude oil prices to provide a meaningful boost to corporate profitability over the coming quarters.
He noted that while companies may see some impact in the June quarter, the benefits of lower input costs should become much more visible during the second half of the financial year.
“Q2 and Q3 will have the benefit of lower input costs, but price rollbacks never happen. That will support better profitability in the second half of the year,” he said.
He also believes easing tariff concerns and resilient domestic demand have strengthened India’s macroeconomic outlook.
“Our ground checks suggest there has been no let-up in consumption, credit demand or collections. Credit growth itself will be around 17-18%, and these indicators suggest this is the time to be bold with cherry-picking,” Kant said.
Defence Story Remains Intact
Despite recent volatility in defence stocks, Kant remains optimistic about the sector’s long-term prospects. While he is less constructive on Bharat Dynamics, he continues to favour Bharat Electronics (BEL), Hindustan Aeronautics (HAL) and Mazagon Dock Shipbuilders.
Recent selling pressure, he said, has largely been driven by trading positions and news flow rather than any deterioration in fundamentals.
“It is a no-brainer if you are looking from a three-year perspective. HAL, BEL and Mazagon Dock remain strong long-term plays,” he said.
Kant also highlighted the potential of the long-awaited P-75 submarine project, which could significantly expand Mazagon Dock’s order book and transform its growth trajectory.
Cautious on AI-Themed Stocks
On India’s artificial intelligence investment theme, Kant advised investors to separate genuine long-term opportunities from market narratives.
Discussing Sterlite Technologies, he acknowledged the company’s strong order book but questioned the sustainability of its business model.
“There is no IP or moat in the business. It has largely remained a trading play over the last 10-15 years, so we are staying away from the fundamental call,” he said.
Banking Preferred Over Auto and Ancillaries
Among sectors that could benefit from lower crude prices, Kant prefers banking and financial services over automobiles and auto component manufacturers.
While paint companies have already recovered significantly from recent lows, he believes expensive valuations and intense competition limit their upside. Auto and ancillary companies, meanwhile, could struggle because of a high base effect in the second half of the year.
“If you are looking at a one- or two-year perspective, they may find it difficult to deliver 20-25% profitability growth. It is a tactical call to stay away for now,” he said.
Instead, he believes banking remains the strongest indirect beneficiary of improving macroeconomic conditions and lower energy prices, making it one of the preferred sectors for investors over the coming quarters.
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Plans to cut prices at family attractions over the summer holidays will be a “wonderful initiative” to help more people visit, a business has said.
Government plans coming into force on Thursday will cut VAT on some tickets to attractions in the UK, with the discount expected to be passed on by businesses to customers.
James Robson, general manager of Birdworld in Farnham, Surrey, said that he hoped the move would make visiting easier for families with less money, but also called for a more lasting initiative to help attractions.
“This opens up accessibility to people who might be feeling the strain over the summer holidays,” he said.
“It’s a wonderful initiative that looks to provide a bit of tax relief through the summer holidays.
“It’s getting more and more expensive to run these attractions, and long term it would be good to see further relief.”
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