The iPhone vs. Galaxy war just intensified. Samsung is pulling out all the stops and developing a foldable phone dubbed Galaxy X, which it plans to release next year, according to The Wall Street Journal.

It would seem the rumors surrounding a mythical phone that can fold over like a wallet are true. The phone, which has been given the in-house code name “Winner,” will have a 7-inch screen and be a little smaller than a tablet but thicker than most other smartphones.

Details are scant and subject to change at this point, but the phone is expected to have a smaller screen on the front that will remain visible when the device is folded. Business Insider published Samsung patents back in May showing a phone that can be folded into thirds, but the business news site noted that patents often change, and some are scrapped altogether.

The Galaxy Note 9 is also likely to be unveiled soon, as is a $300 Samsung speaker that's set to rival the Apple HomePod.

The Galaxy X will certainly be a nifty new invention, but it won’t come cheap. The Wall Street Journal reports the phone will set you back about $1500, which is around $540 more than Samsung’s current most expensive offering, the Galaxy Note 8.

[h/t Business Insider]