Finally, the rumor is true. Samsung Electronics is all set to launch a foldable smartphone in this year itself. As per the recent reports by CNBC, this smartphone again might look sound very similar to a traditional flip phone which initially relied on a hinge to connect the two parts of a single handset. However, this South Korean tech honcho is likely to focus on creating an actual display and one that actually bends.

To this, the President and CEO of IT and Mobile Communications Division, Samsung Electronics, DJ Koh, was quoted saying that, “It’s time to deliver on a foldable device after consumer surveys showed that there is a market for that kind of handset.”

However, right now, further details of the device might be unveiled at the Samsung Developer Conference in November in San Francisco. However, right now Koh did not confirm any indication of when a full launch would take place or when it might go on sale.

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The report also added that “The CEO admitted that while the development process is ‘complicated’, the company has ‘nearly concluded’ it”.

In July, Samsung announced that its recently developed flexible and unbreakable OLED-smartphone panel had received certification from the US-based global safety consulting and certification company, Underwriters Laboratories (UL).

Developed by “Samsung Display”, this flexible OLED panel is again designed with an unbreakable substrate and an overlay window securely adhered to it.