DJ Koh, CEO of Samsung's mobile division, told CNBC reporter Arjun Kharpal that Samsung has "nearly concluded" its development of the product, and that "it's time to deliver" on a foldable smartphone.
A report from the Wall Street Journal in July said Samsung is developing a device, codenamed 'Winner, ' here the screen can be folded in half like a wallet. But unless you're in dire need of an upgrade, the smart move is to wait for what the next iPhone, Pixel and even Galaxy S10 bring. "If the unfolded experience is the same as the tablet, why would they (consumers) buy it?"
"The changes are really just about focusing on millennials who can not afford the flagship", commented Koh when talking about how the company releases mid-range devices more often than flagship models. Typically, Samsung starts shipping its phones a couple of weeks after the launch event which means we could see the device in shops by mid November.
Samsung has revealed that it plans to change its strategy when it comes to debuting new smartphone features. For example, it has released the results of several consumer surveys that suggest that there is consumer appetite for one.More news: Modric is player of the year over Ronaldo, Salah
More news: At midday: S&P 500, Nasdaq hit record highs on Powell comments
More news: Field resignation reflects 'deep divisions' in Labour, Tom Watson says
Other companies racing to introduce rival foldable devices include Huawei, Xiaomi, and Oppo.
It first released a prototype bendable OLED display in 2012 and then created an advertisement showing off a possible foldable phone design in 2014. Samsung doesn't want the phone to become a tablet and has devised a unique experience for it.
The device had a bendable display that reached the size of a tablet once it was unfolded. "So when the end customer uses it, (they think) 'wow, this is the reason Samsung made it, '" he added.
The mid-priced section of the market has suffered from something of a slow down of late, and Samsung is hoping to rejuvenate interest by using its cheaper Galaxy A range of phones to showcase new technology. 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.