Apple is reportedly developing its first foldable smartphone, the iPhone Ultra, after nearly ten years of development. The device is expected to be announced at the annual iPhone event on September 9.

Pricing strategies have shifted due to storage chip shortages and significant price increases. While the initial target starting price was $1,999, it is now likely to rise to $2,199, with the top-tier 1TB storage model potentially approaching $3,000.

The hardware features include a 7.8-inch internal screen and a 5.5-inch external screen. When unfolded, the proportions are expected to be similar to a Magic Trackpad, and when folded, the size will be roughly equivalent to a passport.

The design incorporates a titanium and aluminum hinge structure and custom protective glass developed with Corning. The device is also expected to feature a nearly invisible crease in the display.