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Apple rumored to be working on a clamshell foldable iPhone, shares gain

Published 02/07/2024, 09:21 AM
Updated 02/07/2024, 09:24 AM
© Reuters.  Apple (AAPL) rumored to be working on a clamshell foldable iPhone, shares gain

Shares of Apple (NASDAQ:AAPL) are trading slightly higher in pre-market on Wednesday, up about 0.80%, following a report by The Information, claiming the company is working on a foldable version of iPhone.

In a move that may represent the most drastic design change in the history of its best-selling product, the technology giant is said to be 'building prototypes of at least two iPhones that fold widthwise like a clamshell,' according to people with direct knowledge of the situation.

If a foldable iPhone was to hit the market, it would compete with archrival Samsung's Galaxy Fold, first released in 2019, as well as similarly designed smartphones produced by Motorola, Google and some Chinese brands.

Foldable smartphones are generally considered "relatively niche," and usually command a higher price tag.

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