Apple is widely expected to launch its first foldable smartphone in September, tentatively called the iPhone Ultra. While it will carry a hyper-premium price tag, early pre-release users suggest it may be worth the cost. According to Bloomberg's Power On newsletter, Mark Gurman spoke with multiple individuals who tested the device, reporting that despite its thickness when folded, it fits in a pocket and features a durable hinge mechanism.

The massive folding display enables iPad-like app layouts, which users praised. Though it lacks a telephoto camera—a notable omission at the expected $2,000 price point—the device excels as a camera viewfinder. Apple is also reverting to Touch ID for biometric security, moving away from Face ID.

Critics note the missing telephoto lens could deter some buyers, but the iPhone Ultra is positioned as a new halo product for Apple and the smartphone industry. Despite entering the foldables market later than rivals like Samsung, Apple's entry will likely elevate consumer awareness and benefit competitors through increased category visibility.