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Cupertino-based tech giant Apple is reportedly planning to launch two new lower-priced external displays for everyday users.

According to leaker @dylandkt, LG is developing two new displays that have the same specifications as the current 24-inch iMac and an upcoming 27-inch iMac. Currently, these displays are unbranded but they will likely end up being standalone Apple-branded displays, reports MacRumors.

The 24-inch iMac is priced at $1,299, the upcoming standalone 24-inch display would almost certainly be priced at less than $1,299.

Meanwhile, the 27-inch display will be based on the Apple silicon version of the 27-inch iMac. The display is expected to have mini-LED backlighting and a 120Hz variable refresh rate.

As per report, LG is also working on a 32-inch display that is likely to be a new version of the Pro Display XDR. The display is expected to come with an unspecified Apple silicon chip and will gain support for ProMotion.

Apple and LG are also developing a foldable OLED panel that uses etching to decrease thickness and is likely 7.5 inches in size.

Display analyst Ross Young has claimed that Apple may launch its first foldable iPhone in 2024, compared to 2023 previously.

Earlier, Apple analyst Ming-Chi Kuo said that Apple has been researching foldable devices since 2016, but rumours surrounding a foldable iPhone have noticeably increased in recent months.

The upcoming foldable iPhone with Galaxy Z Flip-like design will also be more affordable than the competing rivals in the same market.