iPhone Ultra Rumor: Apple’s $2,399 Foldable Takes Shape

Apple’s next revolution might ‘fold’ into an Ultra. A fresh analyst forecast has reignited speculation that Apple’s first iPhone Ultra could be a foldable with a sky-high sticker price.

The spark comes from Fubon Research’s Arthur Liao, whose note pegs a 2026 foldable iPhone at about $2,399, a price point now fueling the iPhone Ultra rumor. Analysts hint it could be Apple’s priciest iPhone yet.

Apple’s ‘only spotlight’

Liao’s forecast went beyond price to paint a bleak backdrop for the broader market. He expected global smartphone shipments to shrink about 4% in 2026, with China and iPhone volumes both sliding in tandem. In that environment, he described Apple’s foldable as “the only spotlight” in an otherwise muted year for new devices.

The report tied its cost outlook to mounting component inflation, notably a 75% surge in memory prices since late 2024 and a 5% to 7% rise in total material costs. Rather than insider leaks, the prediction was grounded in supply chain math and Apple’s margin discipline, a combination that made the rumor suddenly sound plausible.

A price so high it needed a new name

9to5Mac gave Liao’s math a name. The outlet argued that the jaw-dropping price would sit so far above Apple’s Pro Max line that it would need its own identity — an iPhone Ultra. The site said that the pricing nearly doubled Apple’s current flagship and far exceeded the $1,799 Pixel Fold and $1,999 Galaxy Z Fold7, both of which often sell at a discount.

That gap, 9to5Mac noted, fit Apple’s pattern of carving out Ultra-level products, from the Apple Watch Ultra to the M3 Ultra chip, each indicating a jump in both capability and status. The report didn’t claim insider confirmation but argued the economics alone made “Ultra” the natural extension of Apple’s naming playbook, a label built to match a device designed to outprice them all.

Design breakthroughs make the rumor hard to dismiss

CNET traced the growing credibility of Apple’s foldable to new reports from UDN, which claimed engineers had achieved a “crease-free design,” a milestone that has eluded most rivals. According to the outlet, the device had already entered pre-mass-production, with a launch window set for September 2026, lending real-world weight to the iPhone Ultra speculation.

CNET added that the foldable would justify its premium status through precision engineering rather than novelty, citing the use of lightweight materials, a custom hinge, and high-grade OLED panels.

Tech analyst Jessica Naziri called 2026 “the year of foldables,” commenting that Apple’s design progress and brand pull would make consumers “save up and pay up” for a device meant to redefine premium.

With Samsung and Google already refining their foldables, Apple’s reported breakthroughs hinted at a late but unmistakably high-end entry, possibly resetting expectations for the category.

Poland’s antitrust regulator is investigating whether Apple’s App Tracking Transparency rules unfairly tilt the mobile ad market in its favor.