According to a report in today's Wall Street Journal the device is codenamed Winner.
Sources told the newspaper that the screen will fold in half and will measure seven inches. Winner will also have cameras in the back.
But it's not only Samsung that's planning on a folding phone. As we reported previously, its Korean competitor LG also has plans for such a device.
The Samsung device may be ready to roll as soon as the beginning of next year.
[Photo courtesy of Kenny Louie, Wiki Commons]