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Apple Inc AAPL could take a different route from other manufacturers like Samsung when it comes to foldable devices.
What Happened: The Cupertino, California-based tech giant is likely to launch a foldable iPad in 2024 rather than a foldable iPhone, according to CCS Insight, as reported by CNBC.
“Right now it doesn’t make sense for Apple to make a foldable iPhone. We think they will shun that trend and probably dip a toe in the water with a foldable iPad,” said Ben Wood, the chief of research at CCS Insight, according to CNBC.
Wood said that a folding iPhone will be “super risky” for Apple because it would need to be “incredibly expensive” so as not to cannibalize sales of current iPhones, reported CNBC.
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Why It Matters: The foldable iPhone would reportedly need to cost nearly $2,500, while at the time of writing the iPhone 14 Max with the most storage costs nearly $1,599.
In February, Apple-centric Bloomberg journalist Mark Gurman said that the Tim Cook-led company is working on a foldable device — likely an iPad or a MacBook — which could launch by 2026.
Price Action: On Monday, Apple shares closed 2.9% higher at $142.41 in the regular session and rose 0.7% to $143.43 in extended trading, according to data from Benzinga Pro.
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Image and article originally from www.benzinga.com. Read the original article here.