iPhone Ultra targeted $1,999 early in its decade long development

Apple is only now expected to release a foldable phone when Samsung has had seven generations of it. Back in 2019, when the first Samsung Galaxy Fold launched, Apple had been studying foldable displays for years but did not feel confident in the technology. Tim Cook, the now-former CEO, wanted the final device to be a phone and, despite the shockingly high expected price, felt it was worth it.

The information comes from Bloomberg’s Mark Gurman, who explained that the fire under the foldable device idea was lit when Tim Cook got back from a visit to Asia in 2020. Apparently, he saw several consumers using foldable devices from other brands. Even though the company was researching foldables at the time, Cook accelerated the development. Moreover, Apple’s former hardware chief and new CEO John Ternus was also a major champion of the device and took it over the finish line.

During the development, Apple decided on a $1,999 price tag, which would allow it to stay “just under the potentially controversial $2,000 barrier.” However, due to ongoing market conditions and higher component prices, a $2,199 starting price tag has been discussed internally, forcing Apple to push beyond that controversial number.

Apple considered the fact that iPhone Pro models that near the $2,000 price tag are still successful, which gave it the confidence to bring the super-expensive iPhone Ultra to the market. That, and the recently launched Apple Upgrade program, should help people look past the “sticker shock,” the company believes. Furthermore, Gurman states that Apple employees are confident the iPhone Ultra will be a success.

The 'Surprise and shine' event is planned for tomorrow, September 9, where the company is expected to unveil its iPhone Ultra foldable, or whatever it ends up being called.