According to a patent filed to the World Intellectual Property Organization (WIPO) in July of 2017, it appears that LG has two foldable phones in the works. These foldable devices have the ability to be turned into a tablet or folded to be more like your standard smartphone.
The first design shows off a device that appears to have two smartphone bodies that are adjacent to each other and share one screen. This screen can be folded to bring the two bodies together to resemble a standard smartphone form factor. In picture 1.9, you can see the device folded and always-on display information projecting from the screen.
With the second design, you see a larger device with a similar design to the first. The main difference here is that when folded, it exposes a section of transparent material. This seems to create a sidebar effect, which can be used to display notifications and the time. Think of the sidebar as the edge screen on the Galaxy Note Edge except without a curve.
ZTE came out with the first foldable phone, the Axon M, but the difference there was it has dual screens that can be folded in half courtesy of a hinge. The displays themselves did not fold, however, it's still a fantastic multitasking phone that gets points for bringing something new to the market.
Truly foldable phones that have foldable displays are coming and the future continues to look more and more exciting. See gallery below for more pictures from the patent filing.
Source: WIPO via The Verge