Polymer Vision, a Dutch company spun out of electronics giant Philips, is readying the Readius, a cell phone/mobile communicator featuring a foldable display.  Readius' unique folding display technology allows a 5-inch screen to tuck away into a cell phone-sized device.  According to PV's website, Readius measures 115 x 57 x 21mm, or roughly the length and width of Apple's iPhone, which features a 3.5" widescreen display.

Readius' display is based on e-ink technology, and so is limited to greyscale.  However, e-ink yields far greater battery life than color LCDs and PV is claiming six times the battery life of a regular cell phone for Readius, good for some 30 hours of continuous reading.  The device will feature a simplified eight-button control array, requiring users to configure their Email accounts and Web/RSS feeds on a personal computer; Readius will utilize a push system to download data for display.

No details have yet been given on possible carriers for the device, but the website lists Readius as packing a tri-band GSM radio with HDSPA connectivity.  According to Reuters, PV CEO Karl McGoldrick said Readius will be priced in line with other high-end mobile phones, and that the company is working on a "dream device" with a video-ready 8" color display.

Look for Readius to ship sometime towards the middle of this year.

Read more on Reuters UK and check out the Readius product page from here.