We say “was” because according to a report from The Information (paywall), it seems that Apple has shelved plans for the feature. According to the report, Apple was said to be working with Intel on the project and the reason for it being shelved was because the Apple executive heading up the project, Rubén Caballero, left the company earlier this year.
It also involved using Intel’s modems, and with Apple buying Intel’s modem business, perhaps that could have put a dent in those plans. However, had the feature been successfully implemented, it would have allowed users to communicate over the 900MHz radio spectrum. This is different compared to the Apple Watch’s Walkie-Talkie feature which relies on either WiFi or a cellular connection. There is no word on whether Apple plans on revisiting the feature at a later date, but for now, don’t expect to see it in this year’s iPhones.