Well, it finally seems to be happening. After years of rumors that felt about as reliable as a weather forecast two weeks out, the foldable iPhone leaks are converging on something real. According to a report from Geeky-Gadgets, Apple's first foldable could arrive as early as this September, with one big catch: initial supply may be capped at around 10 million units.

Ten million units sounds enormous until you remember just how many iPhones Apple moves in a year, year after year. So we're talking about a first run that's a sliver of Apple's normal volume, a toe in the water. After watching Samsung iterate on the Z Fold and Z Flip for years now, I understand why Apple wants to start careful.

Samsung has gotten genuinely good at this form factor. But the crease is still there. The thickness is still there when folded. General industry speculation has long held that Apple is waiting on this category because it wants to crack those two problems rather than ship a compromise, and I find that reading persuasive. Though I'd remind you, it's speculation, not reporting.

The name most consistently attached to this thing is iPhone Ultra, and Apple does love a good premium suffix these days, so I'd bet on that one holding. The leaks suggest a book-style design rather than a clamshell, so think Galaxy Z Fold competitor rather than Flip competitor. That tracks with Apple's habit of entering a category late but aiming straight at the high end, the way the company did with the Apple Watch and AirPods. My granddaughter Jess keeps telling me the foldable is going to be "her generation's phone," and she might be right, though I suspect the first version's price tag will have something to say about that.

That limited supply matters for another reason, too. If you want one of these in the first wave, you're going to want to be sitting at your computer the moment preorders open, because scarcity will be built in from day one. Resellers are going to have a field day. I'd tell you to wait for the second generation like a sensible person, but I know how this goes... I said the same thing about the original iPhone in 2007 and my sister still teases me about it.

Now, my usual disclaimer, which regular readers can probably recite along with me: leaks are not announcements. September is what the supply chain chatter suggests, not what Apple has confirmed. And pricing remains entirely unconfirmed; per reporting from outlets like Tom's Guide, nobody outside Apple knows what this thing will cost, and anyone quoting you a number right now is guessing. Industry reporting has long suggested foldable panel yields are the hardest part of this whole equation, and if those yields disappoint, dates slip. So hold your plans loosely.

What I'll be watching for, beyond the official date, is that price reveal. Foldables have lived in premium territory since day one, and whether Apple follows suit or does something bolder will tell us a lot about who this phone is actually for. And I've said this before about gadgets and I'll say it again: your technology should work for you, at a price that makes sense for your life. Not the other way around.

I'll keep following this one closely and will have more for you the moment Apple actually puts a date on the calendar. In the meantime, don't let anyone talk you into selling your current phone just yet, sweethearts. This is a wait-and-see, even if it's the most exciting wait-and-see Apple has given us in years.