If recent reports are to be believed, South Korean electronics giant Samsung is supposedly working on a new smartphone, which will be foldable. According to Australia Network News, the upcoming Samsung handset has been dubbed as Galaxy S7 and it is expected to be launched before the year ends.

Christian Today reports that it was revealed in 2013 that Samsung was preparing to develop a yet to be named foldable smartphone that was expected to be released sometime between late 2015 and early 2016.

Referring to the purported foldable smartphone at Samsung's Investor Forum 2014 in New York last November, Samsung vice-president (Business Strategic Team) Lee Chang Hoon said, "We will secure production capacity of 30,000 to 40,000 (flexible displays each month) by the end of next year."

The Samsung executive added, "We plan to provide consumers with a product that has a flexible display by the end of the year. However, nothing has been decided on the finished product."

Meanwhile, Australia Network News further stated that provided the South Korean tech titan goes ahead with its plans, the upcoming Samsung Galaxy S7 would be the first foldable handset. Digital Trends, on the other hand, hinted that the company ought to consider the phone's internal components such as the processor and battery if it wishes to succeed with its plans.

In June, Samsung had also announced it has developed a pioneering technology that can help to increase battery life without making it occupy any more space. Researchers affiliated with Samsung said that the new technology allows batteries to last longer, up to two times more compared to the existing batteries.

Moreover, Samsung also has plans to develop a new electronic subscriber identity module (e-SIM) technology standard together with Apple Inc. as well as members of GSMA, which is the global association of mobile telecom service providers. Earlier reports stated that the success of this move could signal the end of traditional SIM cards.