Huawei and Xiaomi are launching new foldable phones days before Apple's event

In 2020, Apple CEO Tim Cook returned from a trip to Asia with a new vision for the company: a foldable iPhone. He observed the growing popularity of folding devices from Samsung and Huawei in Asia and believed that Apple needed to enter the market. At this time, Apple's internal teams had been researching foldable phones, displays, and related components for years, even before Samsung unveiled the first Galaxy Fold in 2019.

Cook's enthusiasm for the project led to its acceleration and the company's eventual unveiling of its first foldable phone.

The development of the foldable iPhone was not a straightforward process. Engineers, designers, and executives debated the device's form factor, initially considering an iPad mini that could unfold into a larger tablet. However, Cook's influence shifted the focus to creating a foldable iPhone, which is more mainstream. Cook's remarkable involvement in the company's product decisions set the project apart from other complex hardware projects at Apple.

Apple's foldable device, known as V68 internally, is positioned as a premium product. The company initially targeted a price of $1,999, slightly below the $2,000 barrier, as seen with the iPhone X in 2017. However, the memory shortage led Apple to exceed its cost goals, with some configurations potentially reaching $3,000. Compared to the standard iPhone, which starts at $799, or the iPhone 17 Pro, which begins at $1,099, the foldable device's price might generate sticker shock for consumers.

The foldable iPhone's 7.8-inch interior display is wider than most Android foldables, providing an optimal viewing experience for video and multitasking. The device's exterior has a 5.5-inch screen to make it easier to hold and fit in a pocket. While the foldable phone offers new features, it also introduces trade-offs, such as being less durable, having a weaker camera system, and reduced battery life. Despite these drawbacks, Apple employees believe the company will sell every foldable phone it can.