Apple's iPhone Ultra price rises to $2,199 due to chip shortage

Apple is expected to unveil its first foldable smartphone, the iPhone Ultra, at its September 9 launch event, with a starting price now projected at $2,199 due to memory chip shortages, up from Apple's original $1,999 target. Bloomberg's Mark Gurman reports Apple has worked on the device for nearly a decade. The price increase stems from industry-wide chip price hikes, with the top configuration, likely 1TB of storage, potentially reaching $3,000. The iPhone Ultra is said to feature a nearly invisible crease, a titanium and aluminum hinge, custom Corning glass, and a 7.8-inch folding screen with a 5.5-inch cover display. Unfolded, it resembles a Magic Trackpad; folded, it is passport-sized.