Apple is working on a third-generation foldable iPhone model, according to a report from Bloomberg's Mark Gurman. In his latest 'Power On' newsletter, Gurman said the device could arrive as soon as 2028.

The third-generation model follows a second-generation foldable iPhone that is planned for a late 2027 launch, part of the iPhone's 20th anniversary festivities. Gurman said the third-generation device will have slightly larger displays, both for the inside foldable screen and the smaller external version.

The first-generation foldable iPhone is expected to launch this fall, as part of Apple's usual September iPhone launches. It is expected to be named iPhone Ultra and is anticipated to feature a 7.8-inch internal screen and a 5.5-inch external screen. The device is expected to be priced at $2,000 or above.

$2,000

Expected starting price for the first-generation foldable iPhone.

The first foldable iPhone is expected to be announced alongside the iPhone 18 Pro and iPhone 18 Pro Max in September. It is expected to feature a Touch ID fingerprint sensor instead of Face ID, along with the A20 chip and the C2 modem, and to have an ultra-thin design.

According to sources, the second-generation foldable iPhone project has received official approval for development. Leaker Digital Chat Station on Weibo said the iPhone Ultra 2 will use the same screen technology as the first model.

According to sources familiar with Apple's development process, the company can have two to three future generations of devices being worked on simultaneously due to long lead times in product development. Major overhauls at Apple can take multiple years to develop, while iterative updates take about 18 months.