Motorola was just given patent rights to a new foldable device by the World Intellectual Property Organization (WIPO). Based on the diagrams of the device in the patent, it seems like the Moto Razr when folded, the display stays on the outside.
The patent also reveal a small island for the camera setup on the top of the device. Additionally, the hinge appears to be a new hinge altogether that minimizes crease and allows the device to fold without gaps. It is expected to thave moving parts within the mechanism to allow the display to bend freely.
As this is just a patent, it may not make it to the market at all especially with the challenge of the tech. However, we could see this in a different application in the future, maybe when companies figure out how to implement the foldable panels better.