One of the leading tech companies that is Apple is said to be working on a unique iPhone design that boosts the ability to fold in half. Bank of America's Merrill Lynch tells CNBC that Apple is teaming up with Asian partners to have a foldable phone released by 2020.

"We expect the iPhones this fall to be largely unchanged for the OLED versions although size changes have proved to be a catalyst in the past," analyst Wamsi Mohan noted "Our checks also suggest that Apple is working with suppliers on a foldable phone (that potentially could double up as a tablet) for launch in 2020."

Foldable phones coming from Apple have been talked about for months now, but it seems the company is making more serious moves. Lenovo and Samsung have been working on the idea also as well as filing patents but no such phone has surfaced on the market.

In other Apple news, the iPhone X Plus is said to hit the shelves this September and will feature a 6.2-inch OLED display, the biggest for any iPhone product so far.