Speculation about an "iPhone Ultra" has circulated for years, but Engadget reports that momentum is building for 2026 to be the year Apple finally launches its first foldable iPhone under that name. Code found in the iOS 27 developer beta, referencing a fold state and varying hinge angles, has all but confirmed that Apple is preparing software for such a device. If accurate, the handset would appeal to power users and multitaskers by offering something close to an iPad Mini's capabilities in a phone that still fits in a pocket.

Analysts including Mark Gurman and Ming-Chi Kuo suggest an unveiling at Apple's usual September event — most likely 8 September — though the increased complexity and a global RAM shortage could push sales back to late 2026 or early 2027, with production reportedly ramped up to around 10 million units. Pricing is expected to start at at least $2,000, and possibly closer to $2,399, making it dearer than the Google Pixel 10 Pro Fold and Samsung Galaxy Z Fold 7. Leaks point to a wider Pixel Fold-style chassis, a roughly 7.8-inch inner display and 5.5-inch outer screen, a slim 4.5–4.8mm unfolded profile, two rear cameras, a 3D-printed hinge and a reduced-but-not-eliminated crease. Face ID would be dropped in favour of a Touch ID button, and a more iPad-like iOS layout is expected, though the device reportedly will not run iPadOS.