apple inc AAPL could take a different route Other manufacturers like Samsung when it comes to foldable devices.
What happened: The Cupertino, California-based tech giant is likely to launch a foldable device iPad more likely than a foldable iPhone in 2024, according to CCS Insight reported from CNBC.
“Right now, it doesn’t make sense for Apple to make a foldable iPhone. We think they’re shying away from this trend and will likely dip a toe in the water with a foldable iPad,” he said ben woodthe research director at CCS Insight, according to CNBC.
Wood said a foldable iPhone will be “super risky” for Apple because it would have to be “incredibly expensive” not to cannibalize sales of current iPhones, CNBC reported.
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Why it matters: The foldable iPhone would reportedly have to cost close to $2,500, while the iPhone 14 Max with the most storage at the time of writing costs close to $1,599.
Apple-centric Bloomberg journalist in February Markus Gurman said that the Tim cook-owned company working on a foldable device — probably an iPad or a MacBook – which could start by 2026.
Price promotion: On Monday, Apple shares closed up 2.9% in the regular session at $142.41 and rose 0.7% in extended trading to $143.43 Data from Benzinga Pro.
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