Before Samsung's big event today, just about anyone who's been paying even a little attention knew that it was planning to announce its foldable smartphone.

As expected, the company revealed a device aptly named the Galaxy Fold. It pretty much matched up with all of the rumors, right down to the size of the displays.

Galaxy Fold Details

The Galaxy Fold is one part phone, one part tablet, all parts expensive. The device is scheduled to release with a staggering price of $1,980.

It comes with two separate screens—a smaller 4.6-inch AMOLED secondary display and a much larger 7.3-inch Infinity Flex AMOLED screen that will be revealed when the device is unfolded. Once you're in the 7-inch plus size, you're bordering on a device that's closer to a tablet than a phone. However, the foldable design here makes this more portable than your average tablet.

The 4.6-inch screen comes with a 21:9 aspect ratio with a resolution of 840 x 1,960. The larger screen features a resolution of 1,536 x 2,152. Both have the same pixel density of 420 dpi, which should make for some extremely sharp images whether on the big or small screen.

Durability is obviously a concern with a device like this being the first of its kind. Samsung claims that the device has been tested to withstand 200,000 folds. That should equate to around five years of usage with 100 folds a day.

Interestingly, Samsung didn't announce much about the processor only saying that it's a "7nm 64-bit octa-core processor." The company did announce that the device would feature 512GB of UFS 3.0 storage space.