Apple Could Launch Foldable iPhone By 2023: Analyst

Apple Inc AAPL could launch a foldable iPhone within two years, according to analyst Ming-Chi Kuo, MacRumors reported Monday.

What Happened: The foldable iPhone is likely to be released in 2023 and would feature a 7.5-8 inch display, according to Kuo.

The launch is contingent on the Tim Cook-led company solving “key technology and mass production issues” this year, as per the analyst. 

Kuo said that the product has “not yet officially kicked off” and appears to be in the research stage.

Why It Matters: Apple has been working with both Samsung and LG on foldable OLED display technology, as per reports, noted MacRumors. 

Another report pegs the screen size at 7.3-7.6 inches and indicates support for the Apple Pencil.

On Monday, it was reported that the Cupertino, California-based tech giant could offer a one terabyte storage option in the so-called iPhone 13.

The phone would also feature other enhancements such as Lidar across all models in the upcoming lineup. 

iPhone 13 is likely to be launched near September, according to Wedbush analyst Dan Ives.

Price Action: Apple shares closed nearly 5.4% higher at $127.79 on Monday and gained 0.75% in the after-hours session.