July 23 (Reuters) -

Apple ( AAPL ) is likely to introduce its foldable iPhone as

early as 2026, the Information reported on Tuesday, that could

mark the biggest hardware design revamp for the company's most

popular product.

The Cupertino, California-based company's plan to release a

foldable iPhone could mimic a similar move by Samsung

Electronics ( SSNLF ), which pioneered the foldable segment in

2019 in a bid to attract new customers with a major hardware

design refresh.

Apple's ( AAPL ) foldable iPhone has progressed from the ideation

stage, the report said, citing two people with knowledge of the

matter.

The company has reached out to suppliers in Asia to make

components for the device, the Information reported, adding that

iPhone maker has created an internal code name V68 for the

product.

Foldable smartphones, powered with artificial intelligence

features, are expected to trigger demand for the iPhone maker,

which faces stiff competition from Honor and Huawei in China and

Samsung globally.

Samsung unveiled its latest foldable smartphones earlier in

July, making its priciest flagship model lighter and slimmer

with new AI functions.

Global foldable smartphone market grew 49% in the first

quarter from a year earlier, marking its highest rate of

increase in six quarters, according to a Counterpoint Research

report from May, with Huawei taking the top spot for the first

time, beating Samsung.

Apple ( AAPL ) also plans to bring an upgrade to a camera of at least

one iPhone model, that would let its users to control the size

of the aperture with a mechanical system, possibly allowing

users to create depth-of-field effect, the Information report

added.

The report also said that there is no guarantee that Apple ( AAPL )

would release the foldable iPhone.

Apple ( AAPL ) did not immediately respond to a Reuters request for

comment.