Apple's iPhone glass supplier Corning is working on a new flexible product as competitors roll out foldable phones using plastic, Wired reported. Corning confirmed to CNBC it's working on the flexible glass product.

The move hints at possible ambitions at Apple to create a foldable phone that's more durable than the plastic polymer-based models recently announced by Samsung and Huawei. Bank of America Merrill Lynch said in March 2018 a foldable iPhone could come as early as 2020 for Apple, saying the company was already working with its Asian partners on the device.

So far, the foldable phone market is untested and expensive, with Samsung's Galaxy Fold debuting at $1,980 and Huawei's Mate X debuting around $2,600. But phone makers are still racing to get their own versions on display, with Motorola reportedly planning to bring back the iconic Razr as a foldable device, The Wall Street Journal reported.

But even those testing plastic-based screens acknowledge the inherent problems in the material, despite being more flexible than glass.