Samsung is rumored to release a foldable phone that could change how consumers look at smartphones.

Several news outlets have reported that the foldable device is dubbed as Galaxy X and it is believed to be one of Samsung's releases in 2017. What's interesting is that it will reportedly feature a bendable 4K OLED display or the Bio Blue 4K display. The company's flexible OLED panel was first introduced to the public at the 2013 Consumer Electronics Show (CES).

According to speculations, the Galaxy X may be small in size but once it is unfolded, it can become just like any regular sized tablet. Rumor even has it that the size of the device is measured at five inches when folded and seven inches when unfolded. A patent application early this year revealed that Galaxy X could have this hinge system that allows it to be foldable, but not fully creased.

The USB Port, on the other hand, reported that the Galaxy X could be more than just a flip phone. The foldable display technology allows the device to transform into other devices. For instance, it was mentioned that the smartphone is so flexible, it can be worn around the wrist to become a smartwatch.

As for the release date, sources familiar with Samsung's plans reported to Bloomberg that the company might introduce the bendable phone at the 2017 Mobile World Congress, which runs from late February to early March in Barcelona, Spain.

It remains to be seen if this foldable phone with 4K OLED display will soon hit the markets. It's also unclear if Samsung will push through with the concept, but if it does and people receive it well, it's likely that the company will go on producing bendable devices, Know Your Mobile reported.

At the moment, the company hasn't confirmed any rumors about the Galaxy X so readers should take the reports with a pinch of salt.