Apple’s first foldable smartphone, widely expected to be called the iPhone Ultra, may not be available for pre-order immediately after its anticipated unveiling in September due to limited initial production, analyst Ming-Chi Kuo said.

Kuo said manufacturing challenges could restrict early supply of the foldable device, meaning pre-orders for the iPhone Ultra are likely to begin later than those for the iPhone 18 Pro and iPhone 18 Pro Max.

The analyst expects Apple to begin shipping the foldable iPhone during the fourth quarter of 2026.

Despite its rumoured starting price of between $2,300 and $2,500, Kuo believes demand will outstrip supply, with the iPhone Ultra likely to sell out soon after becoming available.

Limited availability could also fuel the resale market, with scalpers potentially offering the device at premiums of 50% to 100% above its retail price, according to Kuo.

He estimates Apple will ship between 7 million and 8 million foldable iPhones by the end of 2026.

The latest forecast follows a recent report claiming Apple has increased its production target for the iPhone Ultra to approximately 10 million units next year, signalling growing confidence in demand for its first foldable handset.

According to previous rumours, the iPhone Ultra will feature a 7.76-inch foldable inner display and a 5.49-inch outer screen. It is also expected to be powered by Apple’s upcoming A20 Pro chip, paired with 12GB of RAM and a 5,500mAh battery.

Apple has not officially confirmed the existence of the foldable iPhone or its launch plans. Industry reports, however, continue to suggest the device will debut alongside the iPhone 18 Pro lineup during Apple’s expected September product event.