The Folio is more of a bend tablet: folded, it's a five-inch smartphone with an interactive edge not unlike the Samsung Galaxy Edge. When you unfold it, the screen doubles in size, becoming a handy tablet.
Lenovo claims that both the screens and the internals of the devices are bendable - which while impressive, makes the current concepts frighteningly expensive. They just won't say how expensive, but it wouldn't be the sort of money you'd want to wear on your wrist.
Expected to arrive in the next year, it'll be going head to head with Samsung's folding devices. Your move, Apple.