On this week's episode of The MacRumors Show, we discuss all of the rumors surrounding Apple's upcoming foldable iPhone, now said to be called the "iPhone Ultra," which is shaping up to be a comprehensive redesign unlike anything the company has shipped before.

The ‌iPhone Ultra‌ is expected to launch alongside the iPhone 18 Pro and ‌iPhone 18 Pro‌ Max this fall, though reports suggest it will ship after the Pro models, potentially as late as December. Pricing is expected to start at over $2,000, making it the most expensive iPhone Apple has ever sold.

The device will have a book-style, passport-shaped design with a 4:3 aspect ratio, wider than it is tall and unlike any foldable currently on the market. When closed, it will have a 5.5-inch outer display; when open, a 7.8-inch inner OLED panel takes over, making it just slightly smaller than the 8.3-inch iPad mini. According to design leaks from Instant Digital, the device will measure just 4.5mm thick when unfolded, which would make it Apple's thinnest iPhone to date. The outer frame is said to be made of titanium for durability at that thinness, while the inner frame uses aluminum. The back features a glass finish with a shorter, iPhone Air-style camera plateau housing two horizontally arranged rear cameras.

The same leak revealed that volume buttons are relocated to the top edge of the device, aligned to the right. The inner display features a single punch-hole cutout resulting in a smaller Dynamic Island, while a Touch ID power button and Camera Control remain on the right edge. Reports indicate the ‌iPhone Ultra‌ will support iPad-style multitasking and layouts for running apps side by side when unfolded, befitting its iPad mini-sized inner display. Bloomberg's Mark Gurman has described it as the "most significant overhaul in the iPhone's history."

Achieving that ultra-thin form factor comes with tradeoffs, and the ‌iPhone Ultra‌ will be missing several features that iPhone users have come to expect, in some ways echoing the compromises Apple made with the iPhone Air. The ‌iPhone Air‌ went without stereo speakers, a SIM card slot, and multiple rear cameras to achieve its 5.6mm frame; the ‌iPhone Ultra‌ faces similar constraints at an even more demanding 4.5mm. The ultra-thin chassis leaves no room for a triple-lens camera setup, so the telephoto lens found on iPhone Pro models is absent, leaving just a dual 48-megapixel rear system. More significantly, there is no space for the TrueDepth sensor array required for Face ID, meaning the ‌iPhone Ultra‌ will rely on a side-button ‌Touch ID‌ module instead.

Under the hood, the ‌iPhone Ultra‌ is expected to feature Apple's A20 chip paired with 12GB of RAM. Storage options are said to include 256GB, 512GB, and 1TB, while color options could simply be black and white. Battery capacity is reportedly in the 5,400mAh to 5,800mAh range, which would put it among the largest ever in an iPhone despite its slim dimensions.

The scale of Apple's production ambitions for the ‌iPhone Ultra‌ has already been tempered by manufacturing realities. Kuo initially indicated Apple placed orders for 15 to 20 million total foldable iPhones, though he noted demand would likely be limited due to the device's cost. By December, Kuo warned that early-stage yield and ramp-up challenges could mean smooth shipments may not occur until 2027, with potential shortages lasting through at least the end of 2026.

The high asking price is expected to be a further constraint on volume: IDC projects the device will capture over 22% unit share of the foldables market in its first year, but that market remains a niche segment overall. The ‌iPhone Air‌'s underwhelming sales performance, with Kuo reporting suppliers cut production capacity by more than 80% after demand fell short of expectations, may serve as a cautionary tale for premium iPhone form-factor experiments.

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