San Francisco, May 4 : The Cupertino-based tech giant Apple is working on a foldable iPhone of its own and will be ready in 2023. According to one of the most reliable Apple analysts, Ming-Chi Kuo, the shipment target of the said foldable device is believed to be between 15 and 20 million units. The display will be about 8-inch in diagonal when unfolded and will have a QHD+ resolution, reports GSMArena. The supplier will once again be Samsung but will use silver nanowire touch tech developed by TPK due to its compelling advantages over Samsung's Y-OCTA approach, the report said. The report also mentions other competing brands like Oppo, Vivo, Xiaomi and Honor will all enter the foldable race by the end of this year or at the beginning of the next one with a total volume of about 17 million units. Keep in mind, though, that even Kuo said the news is highly speculative and if the market doesn't adopt the new form factor, Apple could easily scrape all foldable plans. Earlier, Kuo said that Apple has been researching foldable devices since 2016, but rumours surrounding a foldable iPhone have noticeably increased in recent months. The upcoming foldable iPhone with Galaxy Z Flip-like design will also be more affordable than the competing rivals in the same market. Apple is also in the process of engineering an iPhone with a folding display similar to the Samsung Galaxy Z Fold and iPhone maker has ordered a batch of foldable displays from Samsung, suggesting that it is working on a foldable iPhone. A report has claimed that the company might also discontinue the iPad Mini after the launch of its foldable iPhones. /IANS