Many people who want Apple’s rumored iPhone “Ultra” may not be able to get it at first, according to a recent industry survey from analyst Ming-Chi Kuo. Kuo believes that demand will be high for Apple’s first foldable smartphone, but that the company will only be able to make 500,000 to one million of the devices shortly after it launches late in Q3 2026. 

After that initial quarter, though, Apple will get production up to speed and ship around 7 to 8 million units by the end of 2026. The slow initial pace, Kuo said, will be due to the iPhone Ultra’s innovative folding design that will create manufacturing challenges when production first starts. The situation will be similar to the iPhone X, which also had a slow start to production due to technical innovations like an OLED all-screen design, notch and TrueDepth FaceID camera. 

Despite a high price of up to $2,500, demand for the foldable iPhone will be high through the end of 2026, according to Kuo’s discussions with “carriers, sales channels and resellers.” He’s expecting it to sell out immediately after pre-orders open, with lead times up to 4-6 weeks or longer remaining through December. “Scarce initial supply, a highly recognizable design, and an innovative user experience should all support a short-term resale premium,” he wrote. 

Kuo’s report should be treated with some skepticism, as Apple has yet to confirm the existence of its long-rumored (still unnamed) foldable phone. However, Apple’s recent iOS 27 beta adds credence that such a device is imminent, as it contains terms like “foldState” and “angleDegrees” as well as a variable for the total number of built-in displays on the host device. 

“iPhone Ultra” (aka iPhone Fold) is only a rumored name and could change. It’s expected to have a 5.5-inch exterior display and 7.8-inch interior display, a bit smaller than the 8.3-inch iPad mini. It’s likely to be squarer than Samsung’s Galaxy Z Fold 7 when folded, making it considerably wider when unfolded. It will reportedly use a flexible OLED with a laser-drilled metal support plate to disperse stress and will have a nearly invisible crease. For more on what to expect, read our iPhone Fold rumor roundup.