Bloomberg‘s Mark Gurman says “everyone” inside Apple refers to the company’s upcoming foldable iPhone as the “iPhone Ultra” internally. Back in April, Chinese leaker Digital Chat Station in a Weibo post, claimed that Apple’s book-style foldable could launch as the “iPhone Ultra.” However, they will likely have a much lower asking price than Apple’s foldable, which is expected to cost between $2,000 and $2,500. There is precedent for Apple using the “Ultra” moniker, as the Cupertino firm uses the “Ultra” tag for its Apple Watch Ultra and CarPlay Ultra premium products, as well as its top-end M1 Ultra and M3 Ultra chips. No matter what it is named, Apple’s foldable iPhone is widely expected to launch later this year, in the September to December timeframe.