New supply chain reports indicate Apple is developing a foldable iPhone, tentatively named "iPhone Ultra." The top-tier configuration is projected to cost over $7,000, making it one of the most expensive smartphones on the market. Sources suggest the device will feature a titanium alloy frame and an 8K display. Production is anticipated to begin in late 2024, with a potential announcement and release in early 2025. This timing aligns with Apple's strategy of releasing more innovative devices in the new year. The "iPhone Ultra" aims to compete with existing foldable phones like those from Samsung and other manufacturers, targeting a luxury segment of the smartphone market. Further details regarding specifications and features remain scarce but are expected to surface as development progresses.