According to the Swedish company, the new Nokia Morph design will "reinvent the form and function of mobile devices." The phone can be bent like an elastic band or used like a keyboard.
Using the principle behind spider silk, the Nokia Morph can be shaped into a bracelet or ring and wrapped around the wrist. It also changes colour to match the clothes of the user.
The head of the NRC laboratory at Cambridge said: "We hope that this combination of art and science will showcase the potential of nanoscience to a wider audience."
Nokia predict that some of the technology from the Nokia Morph be available for the public by 2015.