Collapsible wheel

I was throwing ideas around with a friend one day when we realized that folding bikes can only fold as small as their wheels. This was a concept I came up with to allow bikes to fold or collapse even smaller, while still using a reasonably large wheel. The idea is that the wheel can be taken apart into 5 sections, four quarters of a rim and a hub. The sections would be tensioned to the hub with cables or cords, and could be nested together when disassembled. The main problem with this design being the balance between strength and weight, as it should be durable, but also lightweight enough to take in a back pack.