Forward-looking: While a number of companies are embracing the idea of a foldable phone, we haven't heard much from Apple about any plans it may have to jump on the bandwagon. But Russian manufacturer Caviar has come up with a concept design for a flexible iPhone that is unlike any other bendable we've seen so far.

Caviar, which is behind "luxury" products such as the $4,500 iPhone Tesla that comes with its own solar charger, released a video of its concept iPhone Z, named after the Z-shape the device makes while it's being folded.

Unlike other foldable phones that open like books (Galaxy Fold), have the screen on the outside and use an out-folding design (Mate X), or fold horizontally (Motorola's Razr and Sharp's clamshell), the iPhone Z folds twice. Xiaomi's foldable also has two folds, though its design is slightly different.

According to LetsGoDigital, a fully opened iPhone Z has a 10.4-inch screen, putting it in iPad territory. It also boasts a 3876 x 2758 (458 ppi) resolution when unfolded, and the design lets it operate in several different modes: a selfie mode, where the triple camera setup is used in conjunction with one of the screen segments; a tablet mode, which is the phone completely opened; a laptop mode, where one screen is used as a keyboard and others as a display; and a screen mode that is used for watching videos while the phone is standing up on a flat surface.

When folded up and being used like a standard smartphone, the screen has a 20:9 aspect ratio. This switches to 3:2 when in tablet mode. The iOS interface, meanwhile, automatically responds to the device's position.

Other features include a camera system consisting of three different 15MP lenses (wide angle, ultra-wide angle, telephoto), in-display Touch ID and possibly Face ID, and USB Type-C. Being a Caviar product, there are also 90 diamonds hidden in the housing.

Like all foldables, it's estimated that the iPhone Z won't come cheap. Caviar believes it would be priced at 2,900 Euros, or $3,262. It's only a concept, of course, so the chances of ever seeing a real-life version of this iPhone are pretty slim. And given what's happening with the Galaxy Fold, Apple won't be in a hurry to join the folding phone market.