Fremont-based company releases first folding phone

FREMONT, Calif. (KGO) -- The first foldable phone is now for sale.

Royole, a Fremont-based company, just released the "FlexPay" phone.

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It goes from tablet to smartphone by folding like a book and costs nearly $1,300.

Samsung is expected to unveil its own foldable phone at an event in San Francisco later this week.

We have more tech reports and info on new gadgets here.