SQLite - replace part of a string

Question

Is it possible using SQL in an SQLite table to replace part of a string?

For example, I have a table where one of the fields holds the path

Answer 1

@Andrew answer is partially correct. No need to use WHERE clause here:

1. Only fields containing C:\afolder will be affected anyway, no reason to check it. It's excessive.
2. 'C:\afolder\%' will choose only fields starting with C:\afolder\ only. What if you have this path inside string?

So the correct query is just:

UPDATE table SET field = replace( field, 'C:\afolder\', 'C:\anewfolder\');