Samsung CEO says it is "time to deliver" a foldable phone

Letting buyers sort out the truly useful new features from the gimmicks at a more affordable price point seems to make sense yet at the same time, it cannibalizes the high-end market as flagship buyers will have less of an incentive to buy expensive phones. Samsung purportedly showed off a foldable smartphone in a private meeting with select clients at CES 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. However, he suggested that more details would be revealed at the Samsung Developer Conference scheduled for November 7 and 8.

Unlike the traditional flip phones that require a hinge, Samsung is reportedly making a screen that bends.

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.

Samsung was rumored to launch its first-ever foldable for a couple of years, but Samsung kept delaying the phone's arrival.

It was two Chinese companies that unveiled pioneering triple-lens and 3D-sensing rear phone cameras with Huawei's P20 Pro, and the Oppo R17 Pro, respectively, but next year all major phone manufacturers will follow suit. Samsung understands that if the device just functions like any other tablet on the market when it's unfolded, users will not develop a strong reason to purchase it.

Compared to Samsung's 2018 flagships, the Galaxy S10 line should debut in-screen fingerprint readers and possibly even feature a depth-sensing 3D camera setup.

Samsung wouldn't be the first company to release a folding phone.

While Koh didn't go into specifics about the device, he did boast that it would wow consumers and that anyone who uses the device will immediately understand why Samsung made it.

The prototype supposedly has a 7in screen and can fold in half "like a wallet".