The Samsung Galaxy Fold is one foldable phone already on the market.
Apple is working on a foldable iPhone, Bloomberg has reported.
What Happened: Apple Inc (NASDAQ: AAPL) has started working on a new iPhone model with a foldable screen.
The tech giant has developed prototype screens and is still in the process of internal testing, according to Bloomberg. There has not been an official decision on any launches, the financial news outlet reported.
The prototype screen would make the iPhone bigger and “more pocketable.”
A person familiar with the testing told Bloomberg that screens would have “a mostly invisible hinge with the electronics stationed behind the display.”
Why It Matters: Apple has not announced any major changes for 2021 production yet, fresh off changes it made in 2020 for new designs, package conditions and 5G.
But the Cupertino, California-based company is trying out one new feature: an in-screen fingerprint reader to unlock the smartphone.
Under current conditions, where people have to wear masks due to the COVID-19 pandemic, making facial recognition difficult, this feature would be useful to iPhone users.
Price Action: Apple shares fell 0.25% and closed at $126.82 in the post-market trading on Friday, after a $127.14 close in the regular hours trading.
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