Bloomberg reveals price and key details of Apple’s first foldable iPhone ahead of launch

Apple will unveil its first foldable iPhone on September 9, after roughly a decade of development, with pricing starting at $2,199, according to Bloomberg’s Mark Gurman.

Sources told Bloomberg the device was developed internally under the codename V68, while some employees referred to it as the iPhone Ultra. Apple had initially aimed to keep the starting price below the $1,999 threshold, echoing the positioning of the $999 iPhone X in 2017. Rising component costs and pressure from the memory market ultimately pushed the entry price to $2,199, while top-storage configurations could approach $3,000.

The phone has been in development for about ten years. When folded, it is said to be roughly passport-sized, with a 5.5-inch outer display. Opened up, its proportions are closer to Apple’s Magic Trackpad, with an internal flexible display measuring around 7.8 inches. Apple has reportedly made the screen noticeably wider than those on competing Android foldables, making it better suited to side-by-side apps and widescreen video.

The hinge and display crease were among the biggest engineering challenges. Apple ultimately settled on a titanium-and-aluminum hinge system and a specially developed flexible cover glass created with Corning. The design is said to make the crease significantly less visible than on rival foldables.

The foldable design comes with several compromises, with the device expected to trail Apple’s flagship iPhones in battery life, durability and camera capabilities. Even so, Apple is reportedly confident in demand, while IDC expects the company to ship between 7 million and 10 million foldable iPhones by the end of the year.

The September 9 event will also mark John Ternus’s first major public appearance as Apple CEO since taking over on September 1. Tim Cook, now serving as executive chairman, is expected to watch the presentation from the audience.