The innovative device - which is set to launch in 2019 - will act as both a tablet and phone, with two displays depending on which format it is being used in.
As reported by CNET, members of the company's system software group explained that there will be a 7.3-inch interior display used when its in tablet mode, but when closed up it will act as a smartphone with a 4.5 exterior screen.
Justin Denison, the tech giant's senior vice president of mobile marketing, has unveiled the device and revealed it uses a new technology called Infinity Flex Display.
He said: "The Infinity Flex Display represents an entirely new mobile platform.
"We've been living in a world where the size of your screen can only be as large as the device itself. We've added a new dimension to help you browse, watch and multitask like never before."
Meanwile, CSS Insights analyst Ben Wood has offered some speculation on whether the new device could become a popular one with customers.
He suggested: "The success or failure of Samsung's first folding phone will depend on how well Samsung has been able to button up the device.
"If it's a slick, attractively designed device it will be a magnet for gadget lovers. If it is bulky and hard to use it will be a tougher sell."