Along with the clip, Lin Bin claimed that the device is the first "double folding mobile phone".
He explained that by folding both sides, it creates a smaller phone unit from a much larger 4:3 tablet. The software adapts the user interface accordingly, depending on which form factor you use at the time.
The model in the video is just an engineering sample for now, but Bin revealed that if it is liked by enough people, Xiaomi will consider building a consumer version.
You can even suggest the name. His examples are Xiaomi Dual Flex or Xiaomi MiX Flex, but other suggestions are welcomed.
We suggest Xiaomi Trendy Bendy Pad. Not entirely sure that'll stick though.
It's not clear whether we'll be able to see the device at this year's Mobile World Congress in February but we do expect several other brands to have their foldable phone concepts at the convention.
Samsung will also show more on its own foldable phone the week before. The handset currently touted as the Samsung Galaxy F or Galaxy Flex will likely make formal appearance during Samsung Unpacked on 20 February.
We'll bring you more at that time.
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