Samsung's Galaxy Fold could soon have new company. UBS analysts predict Apple could roll out a foldable product next year, though they estimate the company will likely release a folding iPad in 2021 before extending the technology to the iPhone, according to a Wednesday report by CNBC. 

"This suggests that the industry will need to work to further reduce costs for foldable mobile devices to take off as a products category," UBS said, according to the report.

More than a third of the customers UBS surveyed reportedly said they had "reasonably high" interest in purchasing a folding phone. Apple customers are willing to pay $600 more as well as higher interest to get their hands on foldable products, UBS says. 

Apple didn't respond to a request for comment.

In February, the iPhone maker updated a patent with drawings of a foldable clamshell phone. Huawei this year unveiled the Mate X foldable phone, which reportedly will launch in September. Samsung's Galaxy Fold is also slated to be released that month. Other companies, including Motorola and TCL, are also working on foldable devices. 

Source: CNET