So basically the tablet and the keyboard can be folded into multiple ways as required. From the looks of it, the tablet and the keyboard can be used together or individually. The images illustrate the different ways of folding the cover.
The patent was filed in October 2011 and that was just after Nokia announced its strategic partnership with Microsoft over Windows Phone platform.
Majority of the tablets available today, especially in India, have same design and similar form factor. This novel design might act as a good break from those tablets but the only worry would be the price point.
Image credit: UnwiredView.com