SAN FRANCISCO -- Samsung has unveiled a highly anticipated smartphone with a foldable screen that breaks new ground in a market that has been stuck in an innovative funk.
The phone announced Wednesday in San Francisco will be called the Galaxy Fold and will sell for $1,980 when it is released April 26.
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Consumers willing to pay that hefty price will get a device that can unfold like a wallet so it can work like a traditional smartphone with a 4.6 inch screen or morph into something more like a mini-tablet with a 7.3 inch screen.
When fully unfolded, the device will be able to simultaneously run three different apps on the screen.
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Samsung is hoping the Galaxy Fold will spur more people to upgrade their phones and reverse a recent slump that saw its smartphone sales fall 8 percent last year.