First foldable phone could be unveiled in November — Samsung CEO


Note that this doesn't automatically mean Samsung's foldable smartphone will be released this year.

Samsung Mobile chief DJ Koh talked to CNBC about the imminent foldable phone, revealing the handset may be announced as soon as November, at the company's developer conference.

The device is expected to double as a phone and a tablet but Samsung doesn't want to stop there. The third screen is located on the opposite side and allows you to access certain functions when the phone is folded. "So when the end customer uses it, (they think) "wow, this is the reason Samsung made it"," said Koh at the IFA 2018 consumer electronics and home appliances trade show in Berlin, which started in August 31 and will run until September 5. He said the "complicated" development process is "nearly concluded".

Visitors look at the Galaxy S9 Samsung smartphone at the 2018 IFA consumer electronics and home appliances trade fair during the fair's press day on August 30, 2018 in Berlin, Germany. For example, it has released the results of several consumer surveys that suggest that there is consumer appetite for one. When unfolded, the device will offer a different experience than a tablet.

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On the other hand, the Galaxy X - or whatever the company ends up calling it - is kind of a big deal.

Koh's new strategy is to focus on millennials who can not afford the latest flagship but still want a device packed with meaningful innovation.

Samsung saw sales in its mobile division fell 20 percent year-on-year in the second quarter of 2018.

Samsung has been toying with the idea of bendable OLED displays for years and even demoed a prototype back in 2012. It's safe to assume that Samsung will be charging a hefty premium for the Galaxy X, especially if it's the first folding phone to hit the market. "So when the end customer uses it, (they think) "wow, this is the reason Samsung made it", he said.