Google will announce the launch of Pixel Fold, its first foldable phone, at its annual developer conference, Google I/O, on May 10.

CNBC got a chance to see the plans of Google in this regard. As per CNBC reports, Pixel Fold is internally known by the codename “Felix” and will cost upward of $1,700.

The new phone will compete directly with Samsung’s Galaxy Z Fold 4.

The likely features include a water-resistant, pocket-sized, small tablet-sized 7.6-inch screen weighing 10oz and a larger battery lasting 24 or 72 hours in a low power mode.

The new foldable phone will be the most expensive in the Google Pixel lineup. To boost sales, Google will reportedly offer a free Pixel Watch with purchase.