For the first time in 15 years, a new CEO took the stage at Apple’s big fall event. Taking a page out of Steve Jobs’ book, John Ternus announced “one more thing” — Apple’s first foldable phone.

Ternus, a “product guy” who previously led Apple’s hardware team, took over for Tim Cook at the start of the month. The annual product keynote marked an opportunity for the new CEO to introduce himself to the wider world of Apple fans — and pitch them on increasingly expensive gadget upgrades.

The foldable iPhone Duo, which is shaped like a passport, becomes an iPad-shaped device when it’s open. It’s Apple’s biggest design change to the iPhone since…