A new report from The Information claims Apple has two foldable iPhones in development that are half as thick as current-gen iPhones.
According to the report both of these purported iPhones resemble Samsung's Galaxy Z Flip models and have a severe reduction in thickness compared to the current-gen iPhones we know today. The report also states that Apple is exploring the idea of adding an exterior screen, but engineers are struggling with implementing batteries and display technology to meet this design.
Furthermore, Apple is reportedly in talks with Asian manufacturers regarding ordering components for these two new iPhones, with the possibility always being on the table that if designs don't meet Apple's high standards, both projects will be scrapped. However, that doesn't rule out a foldable iPad, which seems to be a much more achievable task given the larger footprint of the device.
The report states Apple is focusing on foldable iPad development to create an 8-inch foldable screen that would be similar in size to an iPad mini. Despite the size making it easier for engineers, it presents its own problems, which are likely a problem for the foldable iPhone models as well - the crease that forms with repeated folding. Apple reportedly wants the screen of these devices to be completely flat.
Given the engineering problems, it's safe to assume that Apple isn't even close to releasing a foldable device, which would mean the company is still years away from ever releasing one.