Samsung is aiming for yet another never-heard-of breakthrough in the smartphone market which this time involves a foldable display.

The South Korea-based electronics company has continued to remain at the pinnacle of innovation when it comes to mobile devices.

In fact, the company was the first to introduce a Super AMOLED display in 2010 and the Galaxy S6 edge as the first smartphone that sports a dual-edge curved display this year.

Sam Mobile, a reliable leakage source for Samsung news, revealed on Tuesday that the company is now venturing into making a smartphone that has a display that can be folded without incurring damage and having screen split in two.

This, according to GSM Arena, was officially announced by the company earlier this year.

"Earlier this year a Samsung official announced that the company is building a bendable phone - think a flip phone with one continuous screen that covers the insides of both halves. A popular leaks on Weibo claims to have internal knowledge of the endeavor, dubbed Project Valley (aka Project V)," the report read.

This new innovation in smartphone history, says a Sam Mobile Chinese source, is dubbed as "Project Valley" or "Project V" and is currently being tested for release January next year.

GSM Arena further notes that the new Samsung smartphone may be unveiled at the MWC scheduled for the end of February or even earlier.

According to the Sam Mobile's source from China, the breakthrough device would be made in two configurations: the Snapdragon 620 processor and the Snapdragon 820 chipsets.

Because of its foldable display feature, the rumored Samsung device is expected to have a non-removable battery matched with 3GB of RAM and an expandable memory via a microSD card slot.

And since LCDs do not fare well in bending, Project V is expected to be manufactured with an OLED display, GSM Arena added.

While all these may sound very exciting, consumers from the U.S. and other countries in the West may become disappointed as Project Valley would only be available in South Korea.

"We confirm that this report looks authentic as we have received similar inputs from our trusted and dependable sources. However, it should be noted that this device isn't the Galaxy S7, and Samsung could launch this device only in South Korea," the outlet explained.

Back in 2012, Sony Ericson tried to do the exact same thing but without any success because the technology that would make it possible was not yet available back then.