The iPhone Ultra may actually live up to the hype, as people who have tried pre-release versions of the model indicate it will be worthy of its hyper-premium price.

Apple is widely expected to be launching its first foldable smartphone in September, under what is believed to be called the iPhone Ultra. However, while it will ship with a more premium price than a typical Pro-grade iPhone, it seems that it may actually be worth it.

In Sunday's "Power On" newsletter for Bloomberg, Mark Gurman says he has spoken to multiple people who have tried out the inbound foldable. Based on what they say, it seems like it will offer a lot to potential buyers.

Despite being a thick device when folded, the pre-launch users say it still manages to fit in a pocket. They liked the way the hinge mechanism worked, expressing that it also felt durable.

The model, as you'd expect, also benefits from its massive folding display, which lets Apple introduce iPad-like app layouts. Even this was seen as a positive to the initial users.

When it comes to photography, the device apparently doesn't have a telephoto camera, but it's still great for taking shots. The foldable device apparently excels as a camera viewfinder.

There's also a reversion when it comes to biometric security, too. While iPhones are using Face ID, the new model will go back to Touch ID.

Multiple halos

The lack of a telephoto camera could be an issue when it comes to price. With expectations of it costing consumers at least $2,000, omissions like that could put off some potential early adopters who are used to getting the best specifications in such devices.

That said, the iPhone Ultra stands to become a new halo product for Apple, and possibly the smartphone industry in general.

Though Apple is late to the foldables market compared to rivals such as Samsung, its own launch will reverberate across the industry. This is a thing we have seen time and again, with Apple helping buoy the rest of the market in new areas and design ideas.

Your typical consumer may have heard of foldables but won't necessarily have investigated the product category. With Apple bringing out a model, complete with its marketing engine, it will help raise awareness of foldables in general.

The iPhone Ultra stands to benefit foldables made by rivals.

As for Apple, the existence of the iPhone Ultra will draw even more attention to the rest of the iPhone range. Apple coming out with something outlandish like a folding smartphone will have a natural halo effect on the rest of the range.

Consumers may not necessarily buy the iPhone Ultra, but they may be drawn to other products launching at the same time in their price bracket.