Update - January 10: If the iPhone Flip seems too far away or odd for your taste, you might want to check out the iPhone SE 3, rumored to be arriving in just a couple of months.

While Samsung used CES 2022 as an opportunity to showcase the future of expandable screens with a selection of folding and scrolling prototypes, Apple's long-rumored iPhone Flip/Fold remains purely theoretical. And while various sources suggest that a foldable iPhone could be on the cards for 2023, leaker Dylandkt says Apple is adopting a "wait-and-see approach" as it tinkers with possible designs.

"Apple is definitely working and testing multiple prototypes, including a foldable display," tweeted the leaker, who boasts a solid 77.5% accuracy rate on AppleTrack. He added, "But there are still many compromises to be made with the foldable display technology."

He did not specify what compromises Apple was unhappy with, but unsightly creases, scratchy surfaces, the finite number of guaranteed folds (200,000 folds for the latest Samsung Galaxy foldable display, or 100 folds per day for five years) and so on.

But in addition to this, the leaker adds that there is concern that foldable phones may be merely a passing fad, and that by the time Apple gets into the race, it will be over. He writes, "Therefore, Apple intends to watch the market closely and improve upon the mistakes of its competitors."

"While other manufacturers are iterating on seemingly beta products, Apple is keen to ensure that the design does not retreat from the current iPhone form factor," he continued. They want to take the long view of how the technology will progress."

On the one hand, this sounds like typical Apple (assuming, of course, that the leak is accurate). Even the company's biggest defenders would not dispute that the company is the first to embrace exciting new technology trends. The result is a sophisticated product, and while one could argue that the iPhone was too late to adopt wireless charging and OLED panels, Face ID is certainly a significant improvement over the early facial recognition hardware path pioneered by Android trendsetters.

But in this case, it is dangerous to wait and see. While sales have undoubtedly rebounded in 2021, thanks in part to Samsung's aggressive price cuts on the Galaxy Z Fold 3 and Z Flip 3, the Foldable remains a niche product. Logically, that is a legitimate reason for Apple to stay out of it, but it could also be the strongest argument for Apple to enter the market, contrary to intuition. After all, Apple has the unique ability to sell new concepts, even if the price is high and the form factor is off the wall, as it did with the initially derided AirPods.

Needless to say, for Apple, it doesn't matter if the foldable fails as long as it doesn't spend a fortune on the genre. However, anyone who wants folding phones to become mainstream would want Apple to join the competition.

While we wait for Apple's foldable phone, the Honor Magic V may be one to watch.