Samsung will launch its first smartphones with flexible (or 'bendable') screens that can be folded in half next year.
"We plan to provide consumers with a product that has a flexible display by the end of . However, nothing has been decided on the finished product," said Lee Chang-Hoon, Samsung Display VP during the Samsung Investor Forum 2014 in New York, as reported by ZDNet.
"We will secure production capacity of 30,000 to 40,000 [flexible displays each month] by the end of next year. There will be no [other] company that has this great production capacity by 2016."
The tech giant previously showed off flexible smartphone prototypes at CES back in early 2013.
Samsung also plans to reduce the number of new smartphone models it produces from next year.
"In 2015, we will lower the number of smartphone models by one fourth to one third compared to this year," added Robert Yi, senior VP and head of investor relations at Samsung Electronics.
"This will allow us a chance to lower the prices of [remaining models] through mass production. In low- to mid-end products, price is the most important, and for high-end products, it is innovation."
Samsung, along with LG, also presented flexible TVs at CES earlier this year.