The foldable iPhone will reportedly be called 'Duo' and cost $2,000

That's not cheap, but not as expensive as some had predicted.

Apple's foldable iPhone expected to be announced today may not be called the "Fold" or "Ultra" as was expected. Rather, it could be referred to as the iPhone Duo, a name previously used by a Microsoft Surface device and line of Apple notebooks from 1995 , Bloomberg 's Mark Gurman reported.

Like Samsung's foldable phones , the "Duo" won't be cheap, though perhaps not as expensive as previously predicted. It will reportedly start at $2,000 for the 256GB version and approach $3,000 for a fully-equipped 2TB model, less than the $2,500 starting price predicted by some pundits. Apple sacrificed some profit margin to hit that goal and boost demand, Gurman said.

Other predicted specs include Apple's new A20 Pro chip and C2 modem, dual 48-megapixel rear cameras, a 12MP front camera, support for the Apple Pencil stylus(!) and a magnetic hinge system. The Duo will likely have a wide design that folds out into a landscape shape for watching video (much like Samsung's Galaxy Fold 8 ), and offer the ability to multitask with side-by-side apps. It will be available in dark blue and white and go on sale sometime in October, not too long after the iPhone 18 Pro hits shelves, according to the report.

Gurman also noted that the iPhone 18 Pro and Pro Max will be $100 more expensive than the previous models, a modest bump that's also less than expected. Stay tuned for Apple's Surprise and Shine event starting at 10AM PT today, and join us as we live blog today's iPhone announcements . We'll also have hands-on coverage of the new products, product comparisons and analyses and a lot more.