Apple is already late to the foldable phone party. Thefoldable iPhoneis much awaited, with the competitors’ devices already in their sixth generation.

Now, a report fromThe Information, citing two sources, suggests that the Flip-styled iPhone is already past the ideation stage. This device has been assigned an internal code name – V68.

If accurate, the first ever foldable phone from Apple could take onSamsung’s Galaxy Fliplineup of devices. Incidentally, Samsung’s Flip is themost successfulamong all foldable phones.

The report adds that Apple has already contacted its Asian suppliers to start making components for this upcoming device.

The Information also states that Apple plans to upgrade the camera of at least one iPhone model. Apple’s next model could feature a mechanical aperture control system. This will likely offer users better control of their phone’s camera and create a natural depth-of-field effect while capturing stills and videos.

Interestingly, Apple faces stiff competition from Huawei in China and Samsung in the global regions. Both brands have already been making foldable phones for a while now.

That said, The Information also highlights that Apple is facing issues with the screen crease. Despite moving to talks with the supply chain, Cupertino hasn’t figured out how to fix the display crease.

This is not the first time we’ve heard something about Apple’s foldable iPhone plans. The company was also rumored to be working on a large-screenfoldable hybrid table-like device.

We also came across a report suggesting Apple has a large foldable iPhone with a 7.9-inchwrap-around display.

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The Information even warns about the possibility of the iPhone Flip never seeing the light of day.

However, looking at Apple’s recent push towards premium lifestyle devices with the thinOLED iPad Proand the rumorediPhone 17 Slim, the iPhone Flip will likely become a reality.

Apple will launch itsnew iPhone 16 modelsat its fall event this year.

Jitendra Soni was a Tech Writer on Dexerto’s UK Team. An expert in tech, especially smartphones, he has almost 10 years of experience. He spearheaded the TechRadar India editorial operations and has written for TechRadar, TechRadar Pro, Free Press Journal, Mobile Scout, IB Times Singapore, Indulge Express, and more.