Microsoft 365 Roadmap
RM489831Outlook: Create, Delete, Rename, and Move Folders
Summary
You will now be able to more easily create, delete, rename, and move folders on mobile. From your inbox, tap the Edit icon in the sidebar. Tap on any folder to create a subfolder, or rename, move, and delete that folder. You can also rearrange and nest your folders by dragging and dropping them.