Samsung has unveiled an innovative new mobile device that transforms from a smartphone to a tablet. Samsung aptly named the device the Galaxy Fold. It will cost you a cool $2,000 if you want to be the first on your block to own one.

Rumors of a new foldable device circulated on tech blogs for years. Samsung debuted its transformer phone at an event in San Francisco on Wednesday.

The Galaxy Fold transforms from a large 7.3 inch screen to a device small enough to fit in your back pocket. The large touchscreen folds in half and rotates to fit the smaller 4.6 inch display.

Samsung says the Galaxy Fold was designed for users who like to multitask.

The gigantic mobile tablet runs on 2 batteries – one on either side of the fold.

Samsung announced its operating systems for Samsung devices will support the new foldable technology.

Prices for the Galaxy Fold start at $1,980. The phone will launch in Europe on May 3.