• Apple plans to launch a foldable giant iPad and a folding iPhone, according to multiple reports.
• The foldable tablet device is reportedly the size of two iPad Pros.
• Apple could also introduce a thinner iPhone next year, the reports said.

Apple is developing a foldable iPad and a foldable iPhone, according to multiple reports.

Apple is working towards bringing the foldable iPad, said to be the size of two iPad Pros when unfolded, to market around 2028, Bloomberg's Mark Gurman reported in the “Power On” newsletter on Sunday.

The company is unlikely to bring its folding iPhone to market before 2026, Bloomberg and The Wall Street Journal reported.

Despite years of working on the new form factor, Apple has faced hurdles in bringing foldable devices to market. Critical components, such as a reliable hinge mechanism and a display screen protection cover for the display, have delayed progress, according to The Wall Street Journal.

Rival tech firms already offer foldable dual-screen products, such as Microsoft Surface Pro and Lenovo's ThinkPad X1 Fold. Similarly, Apple is the only major smartphone company without a foldable device. There have been many reports about a prototype folding iPhone in recent years, including that Apple has been working with LG and Samsung on displays for the collapsible devices.

Apple wants its new iPad to be free of the crease that's present in other foldable devices available on the market. Gurman said the new device has an almost invisible crease.

The Cupertino-headquartered company also plans to introduce a thinner iPhone next year. Apple wants to offer the “thinnest and lightest products” on the market, Gurman wrote in June.

The range of new devices in development is part of Apple's broader strategy to diversify its hardware offerings as it seeks new avenues for growth.

Apple said in its most recent annual report that its future devices might not be as profitable as its iPhone business, which made up nearly half of its total revenue in its fiscal fourth quarter.

In a note to investors in the report, Apple said, “New products, services and technologies may replace or supersede existing offerings and may produce lower revenues and lower profit margin.”

It added that it could “materially adversely impact the company's business, results of operations and financial condition.”

Apple didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

​Apple is working towards 2028 as a release date for its foldable iPad, Bloomberg's Mark Gurman reported.  Tech, apple, ipad, iphone All Content from Business Insider