By Chloe Aiello
Steve Wozniak may be worried Apple is behind the curve on a foldable smartphone, but Gene Munster said iPhone users can "rest assured" a version will be coming to market.
"Apple ($AAPL) is taking their traditional playbook and coming out in due time," Munster, managing partner at Loup Ventures, told Cheddar. "When will Apple have this foldable phone? Likely, I would say, it's in the next couple of years."
Samsung shocked tech junkies earlier in the month when it unveiled its nearly $2,000 Galaxy Fold. Shortly after, embattled Chinese tech giant Huawei introduced its Mate X, a sleek folding device that reviewers seem to love, for about $2,600.
Apple was noticeably absent from the folding party, which evidently concerned the tech giant's co-founder Steve Wozniak. He told Bloomberg that Apple, which is typically on the edge of innovation, is "not the leader in areas like the folding phone, and that worries me because I really want a folding phone."
Munster said some of Wozniak's comments are likely coming from a place of anxiety, since he's "a big product person" and Apple has been focusing more on services. Apple's services business, which includes Apple Music and iCloud, has become increasingly important as the momentum from core hardware products like the iPhone and Mac slow.
And even though only "a third of the market" will actually want a folding phone, Munster said, it will still be an important innovation for Apple to follow, especially as the world looks to the next generation of wireless.
"There is an insatiable appetite for advanced tech and I think that the specific opportunity around these phones is for 5G," Munster said.
For full interview click here.