Apple has unveiled its artificial intelligence-boosted iPhone 16, showing off the long-awaited phone hours after Chinese rival Huawei's tri-fold phone began racking up orders. "The next generation of iPhone has been designed for Apple Intelligence from the ground up. It marks the beginning of an exciting new era," Chief Executive Tim Cook said at a product launch on Monday. The iPhone 16 will use the new A18 chip and have an aluminium back, as well as a new customizable button that can be used for camera controls. Huawei's website showed on Monday that it had garnered more than three million preorders for its Z-shaped tri-fold phone.