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What if you could wear your smartphone around your wrist instead of carrying it around in your hand 24x7 and fearing now and then that you might end up losing your priced possession? Sounds dreamy, right? Well, a Chinese startup seems to have made this dream a reality.

Moxi Group, a startup based out of China, seems to have cracked the code and manufactured a smartphone that can bend all the way around your wrist. Yes, you read it right. A Smartphone around your wrist!

Featuring an attractive flexible touchscreen, the phone still functions when the device is looped in and worn like a watch or a bracelet by the user. It also works when it is stretched out flat, like any other regular smartphone.

The bendy screen of the device makes use of graphene, which is known for being the thinnest material in the world. Along with being the thinnest, it is light, flexible, transparent and strong at the same time.

According to experts, if Moxi is able to pull of the bendable phone, then it might be at the verge of a great innovation.

But people who are getting all excited to land their hands on this innovative device, here's something you should know. The company is initially planning to launch the device only in black-and-white displays. Although this might be a deal-breaker for many, but don't lose hope. Apparently, the company is working really hard to make the color version available by 2018.

Headquartered in Chongqing, China, Moxi is known in the industry for having great precision in using graphene. In fact, the company's name, which is pronounced as "mou-she" -- means "graphene" in short in Chinese.

The company is expected to release its black-and-white versions at 5,000 yuan ($760) in China. Currently, the cheapest version of the famous iPhone 6S is selling for 5,288 yuan (US$806) in China.

In addition to Moxi, various tech giants like Apple, Samsung and LG have been working towards developing flexible touchscreens. It was only last year that Apple had received a patent for a "flexible electronic device".

According to industry experts, the biggest challenge right now in front of these companies is to figure out if it is commercially viable to manufacture the product for the mass market.

Wearable technology users are currently looking forward to having a lot more functions and greater computing power in their devices, and Moxi Group with its bendable device might just be able to give them that.

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