Apple is reportedly preparing to take the iPhone into a new price bracket, with its first foldable model expected to cost more than $2,000 when it arrives later this year.
The device, widely rumoured to be called the iPhone Ultra, is expected to fold like a book, opening into a much larger display approaching the size of an iPad mini.
Reports suggest Apple has spent years refining the hinge and screen in an effort to minimise the crease that has affected some rival foldable phones.
Premium price
But the eye-watering price is perhaps the most significant aspect. Some estimates put the starting price between $2,000 and $2,500, while higher-storage versions could potentially approach or even exceed $3,000.
For Apple, this appears to be about more than simply selling another iPhone. Rising component costs, particularly for memory, are putting pressure on margins, while the company increasingly looks towards wealthy consumers prepared to pay for premium technology.
The gamble is whether Apple’s enormous brand appeal can persuade customers that a $2,000-plus smartphone is worth owning.
If it succeeds, the foldable iPhone could establish an entirely new premium tier — and potentially give Apple room to push prices higher across the wider iPhone range.