Apple's first foldable, the iPhone Ultra (or Fold), could cost over $2,000 according to analysts. But US adults aren't willing to pay that much.
Apple could release its first foldable iPhone in a few weeks at the company’s annual September event (which could be Sept. 9). The late summer showcase is usually Apple’s big reveal for new hardware. The center of attention could be the rumored iPhone Ultra, Apple’s first foldable.
Analysts say the phone could be dubbed the iPhone Ultra (previously nicknamed the iPhone Fold and iPhone Flip). It’s expected to be a tiny iPad that folds in half, into a regular-size iPhone when closed. Rumors suggest Apple’s folding phone will feature a wide book-style fold, similar to the original Google Pixel Fold and the recently released Samsung Galaxy Z Fold 8, which has a folding display with the same aspect ratio as an iPad.
The iPhone Ultra could also have two rear-facing and a single front-facing camera that works whether it’s folded or not, and come with Apple’s usual features and services. Analysts expect the phone to cost between $2,000 and $2,500, which is on par with, if not a little higher than, rival folding phones from Motorola, Google and Samsung.
However, most US adults say they aren’t interested in buying a new foldable phone.
A CNET survey that polled 2,605 US adults found that 75% aren’t interested in buying a foldable Apple device. Even if they bought one, they wouldn’t shell out thousands of dollars for it.
CNET found that most US adults, regardless of age, aren’t interested in a foldable iPhone. Older generations (Boomers and Gen X) express the least interest — 83% and 77%, respectively. Younger generations aren’t that excited either, with nearly 70% of Gen Z and millennials (69% and 68%, respectively) not interested in a foldable iPhone. And those who are excited about one aren’t willing to break the bank for it.
Patrick Holland, CNET’s director of content, finds it surprising that only 75% weren’t interested in a foldable iPhone. “Foldable phones are niche products, and it’s impressive that 25% might be interested in an Apple folding phone,” said Holland. “That would be a killer product debut if Apple could get that many people to buy one.”
The same thing can be said for the iPhone Mini and Plus models for those who want a smaller or larger screen, but still want an iPhone. Or the E series, which is a budget-friendly model starting at $600 before discounts.
Holland pointed out that the foldable iPhone isn’t meant to replace the baseline model; it’s about expanding the line and offering phone models at an even bigger price range. Apple could have an iPhone model at ever $100 increase between $600 and $2,000.
On average, US adults are willing to spend $781 on a new foldable iPhone. That’s less than what most iPhones cost now. For context, the base model of the iPhone 17 starts at $799 (with a $30 carrier discount).
Gen Z is willing to spend the most on a foldable iPhone — an average of $919 — whereas other generations would spend less. Millennials would spend an average of $859, Gen X would spend $690, and Boomers even less — $572.
“The fact that people want an average price that’s nearly $50 below the baseline iPhone 17 shows where we’re at financially right now,” said Holland. “A foldable iPhone is going to be expensive to make, and its retail price will likely reflect that.”
But foldable phones haven’t always been this expensive. Holland points out that the price of foldable phones has dropped for years, as with the Motorola Razr line. The first model cost $1,400, but last year you could buy a new one for half that price before discounts. Now those prices have started to rise again (because of the RAM shortage), and the rumored $2,000 price for the iPhone Ultra is proof of that. It’s a few hundred dollars more than foldable phones cost just a couple of years ago, Holland said.
The evolution of AI and data centers has led to a memory chip shortage — also known as the RAM shortage or RAMageddon. Personal devices, like phones and laptops, need those chips for data storage. However, the shortage has led tech companies to raise prices on their devices.