New York (CNN Business) Samsung has a new weapon in the flip phone wars.

The world's biggest smartphone maker unveiled a new foldable device, the Galaxy Z Flip , at its Unpacked press event in San Francisco on Tuesday.

The 6.7-inch smartphone folds into a square about half its size, with a small rectangular display on the front cover for notifications. It comes in three colors — purple, black and gold — though only the first two colors will be available initially when it goes on sale Friday February 14 in select stores and online.

Samsung also unveiled a limited edition of the flip phone in partnership with New York fashion brand Thom Browne, which features the brand's signature red-white-and-blue stripe on a gray exterior.

"This is no ordinary smartphone. It changes everything," Rebecca Hirst, Samsung's head of UK mobile marketing, said while unveiling the device.

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