It seems Samsung is trying to set a new trend in the smartphone market with the release of the first foldable handset.

According to various sources, this device, codenamed as the Samsung Project Valley, is expected to be unveiled sometime in January of this year, G for Games reported.

Details regarding the unique device are still scarce at the moment but a tipster from China leaked through Weibo that Samsung has already started testing out the smartphone.

Based on the leak, the device will arrive in two processor variants. One will sport the Snapdragon 620 chipset while the other one, which could possibly be released as a premium model, will come with the more powerful Snapdragon 820 processor. This is the same chipset rumored to power the upcoming Galaxy S7 smartphone.

Despite the differences in SOCs, both models are expected to pack 3GB of RAM. The Samsung Project Valley will also feature support for a microSD card for an expandable internal storage.

Aside from these details, the leaker also posted an image of the handset. Based on the image, the device might sport a single rectangular display which can be folded in the middle. The contents of the screen will also be divided and displayed through the two halves.

This isn't the first time that Samsung was rumored to be working on a bendable device. Back in 2013, an executive from the South Korean tech firm demonstrated flexible OLED displays during the CES event.

According to the company, it was able to develop the technology by utilizing thin plastic instead of glass for the screen. This material provided the display with the ability to flex and bend without breaking or shattering, Popular Science reported.

With a fully bendable device, Samsung will be able to market handsets with large display but can still be easily stored inside pockets or small compartments. This could possibly boost the company's ranking in the smartphone industry due to the practicality of the device's design.

In addition, if the Samsung Project Valley does come with Qualcomm's next-generation Snapdragon 820, then the device can go up against other premium handset models that feature powerful processing capabilities.

As noted by the tipster, the bendable smartphone from Samsung can be expected to launch early next year. However, this launch period and the specs of the device are still considered as rumors for now since Samsung has not yet made any announcements regarding the Project Valley.

Hopefully, more details about the device will be released by the company within the next few months.