Apple’s upcoming foldable ‘iPhone Duo’ is expected to launch with a price tag of $2,000.

With just a few hours remaining until the first iPhone launch event under CEO John Ternus, a report has surfaced indicating that the highly anticipated folding phone will be called the iPhone Duo. According to the late-night update, the starting price for the model with 256GB of storage is expected to be around $2,000, while a version with up to 2TB could reach approximately $3,000. Shipping is rumored to begin as early as October, available in two colors: white and dark blue.

Previously, this foldable device was often referred to as the iPhone Ultra. The Duo name, however, echoes a title previously used by Google for its unsuccessful messaging attempts and is also associated with Microsoft’s own foldable devices, the Surface Duo and Surface Duo 2.

In terms of pricing, the iPhone Duo could be positioned above the base models of Google’s Pixel 11 Pro Fold and the Samsung Galaxy Z Fold 8, which start at $1,899, but below the Galaxy Z Fold 8 Ultra, priced at $2,099.99.

As speculated, the iPhone Duo is expected to support side-by-side iPhone apps, offer iPad-like multitasking capabilities, and allow the use of the Apple Pencil as a stylus. Official details are anticipated soon, so stay tuned for updates at 1PM ET / 10AM PT as they become available.