Google's next big update for Android will be Android 12, but recent rumors point to a 12.1 update in the future that will improve the foldable phone experience.
References to this device have been identified by 9to5Google. The device in question was reportedly codenamed “Jumbojack”. XDA can also confirm that references to a foldable device called “pixel_jumbojack” appear in Google's internal AOSP repository. The codename may be a reference to Jack in the Box's Jumbo Jack cheeseburger.
9to5Google report states that documents show how “Jumbojack” is being used to test foldable features on Android 12. Apparently, the device has two displays, and once folded, the second display is hidden. It also has features built into its Android 12 software that won't be available for other foldable devices until the next version 12.1.