Apple’s first foldable phone could enter an especially expensive corner of mobile computing. Bloomberg reports that Apple internally once targeted a $1,999 starting price for the device, widely referred to as the iPhone Ultra, but rising memory costs may have moved discussions toward $2,199. Higher-storage versions could approach $3,000, according to the report. Apple has not announced the product, its name, or its pricing.
That potential price would put the handset well above conventional flagship phones, making its compact-to-large-screen form factor the central part of its value proposition. A mockup shown at IFA 2026 reportedly indicated a short, wide design when closed, with proportions compared to a passport.
A phone, not a folding mini tablet
Apple’s teams had reportedly explored foldable displays and devices for years, including a concept closer to an iPad mini that could unfold into a larger tablet. Around 2020, however, Tim Cook is said to have returned from visits to Asia persuaded that Apple needed to compete in foldables, a category where Samsung and Huawei already had products on the market.
Bloomberg says Cook pushed the work toward a more broadly marketable iPhone rather than a tablet-style device. The reported intervention was unusually direct for Cook, who became Apple’s executive chairman on September 1 as John Ternus took over as CEO.
The engineering problems behind the delay
The report describes four technical hurdles that extended development: minimizing the visible display crease, building a durable hinge, creating a flexible protective display layer, and integrating an under-display camera. Apple is said to have ultimately settled on a titanium-and-aluminum hinge and flexible glass developed with Corning.
The project spans multiple Apple hardware leadership eras. It began while Dan Riccio led hardware engineering, was reportedly advanced by Cook, and reached its final stage with Ternus among the executives involved. Apple has officially confirmed the Cook-to-Ternus leadership succession, though the company has not confirmed a foldable iPhone.
Apple is scheduled to hold its “Surprise and shine” event on September 9. If the foldable appears, it would represent a new iPhone form factor rather than a direct replacement for a tablet. Until Apple makes an announcement, however, its specifications, final price, release plans, and even the iPhone Ultra name remain unconfirmed.
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