Apple's foldable "iPhone Ultra" may launch in mainland China later than in some other markets, according to an oft-reliable Chinese leaker. Posting on the Weibo social media platform, Instant Digital said that Apple has a limited initial inventory for its first foldable device, and the rollout could be shaped by regional allocation.

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Foldable iPhone name revealed, prices and availability too leak ahead of tonight’s launch

The foldable will be a test for Apple, which has not launched a breakout hit since the AirPods 10 years ago.

Following some recent speculation that Apple could release its foldable phone under the "iPhone Duo" name, it appears that will indeed be the case, according to Bloomberg's Mark Gurman. For months now, the foldable iPhone has generally been referred to as the "iPhone Ultra," even internally, but Apple is apparently going in a different direction for the official name, emphasizing the dual-screen nature of the device.

Former Apple CEO Tim Cook played a major role in the development of the foldable iPhone, which could reach around $3,000 with storage upgrades, according to new details shared by Bloomberg's Mark Gurman. Early in the development of the foldable iPhone, the company reportedly targeted a starting retail price of $1,999, hoping to come under the "potentially controversial $2,000 barrier". The idea was to replicate the debut of the iPhone X in 2017, which started at $999.

Hours before the Apple event, Bloomberg reports the new foldable will be named the iPhone Duo. Get the details on its $2,000 starting price and October release date.