What you need to know
- Apple is allegedly working on foldable mobile devices, including an iPhone and iPad.
- Apple could release a foldable device as early as 2021, according to the report.
- The report claims Apple customers would be willing to pay more of a premium for a foldable device.
According to a new investor note from UBS, via CNBC, Apple is working on foldable devices for the near future.
CNBC said in its summary of the investor note from UBS:
But Apple is steadily working on the technology and UBS believes a folding Apple product could come next year, although it said '2021 is more likely.'
Although Apple is showing interest in releasing a foldable iPhone, UBS believes the first foldable device from Apple will actually be an iPad.
While UBS believes consumers are excited for a foldable iPhone, cost is a major hurdle. Apple consumers are allegedly willing to pay more of a premium, UBS said, but the cost of a foldable iPhone could be much higher than something like the iPhone XS, which starts at $999.
Samsung, one of Apple's largest rivals, attempted to launch the Galaxy Fold earlier this year but encountered quality assurance issues with the display. When the device was scheduled to launch in April, it retailed for $1,980—much higher than an average smartphone.
If Apple is working on foldable devices, you can bet the company won't release anything until it's absolutely sure its products ready. Whether that's in 2021 or later remains to be seen.
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