Ko Dong-jin, head of Samsung Electronics' Information and Mobile (IM) Division, said on Sept. 3 that the launch of a foldable smartphone was imminent.
"We have almost completed the development of a foldable phone," Ko said in an interview with CNBC. “It is the right time to launch a foldable phone.” He reiterated Samsung’s plan to become the first company in the world to launch a foldable smartphone.
CNBC reported that a foldable phone could be unveiled during the Samsung Developer Conference in San Francisco this November, but Samsung denied it. .
"Every device, function and innovation should be able to deliver a meaningful message to our customers," Ko said. "Only then, consumers will understand why Samsung made a foldable smartphone."
CNBC said that Samsung Electronics could differentiate itself from competitors such as Apple and Huawei through the launch of a foldable phone. Samsung Electronics has maintained its number one position in the global smartphone market, but its market share has been on a steadily decline, hovering around 20% in the second quarter of this year.