The new S-View Cover for the Galaxy S4 is similar to the standard Flip Cover Folio except that it has a rectangular peephole cut into the cover, giving you partial access to the screen.
The phone can sense when the cover is closed and switches to a minimized view when new updates arrive, putting the information in a tiny window that lines up with the cover's cutout. In this view, you can get access to information such as the time, battery status, the current music playlist, and caller ID.
It's a cool concept, but at launch, the cover is way overpriced. It will most likely come down in price with time.
Note: While the standard Flip Cover Folio is available in several colors, the S-View is only available in black or white.
See pricing for S-View Slip Cover Folio from Amazon.com.