Samsung has a lot of things going on. Apparently, it is already working on its next flagship, the Galaxy S7, along with a couple of tablets, one measuring 18.4 inches. Now, the South Korea-based company is said to be going all out by attempting to become the first successful tech firm to release a foldable smartphone, which the tech world might see in action early next year. 

This is according to a leakster in Weibo who also claimed that Samsung is trying to beat a January deadline for the smartphone, which is codenamed Project Valley or simply Project V. The Galaxy maker is reportedly preparing Qualcomm Snapdragon 620 and Snapdragon 820 units for the flip phone. It remains to be seen which chipset will end up on the device or if they will both be used to make separate versions. 

While there's no confirmation from Samsung yet, it is highly probable that the 820 processor, the newest and most advanced from Qualcomm, will be under the Samsung Project Valley's hood. This is because the processor is expected to be unveiled before the year ends and that the devices that will have it are slated for a 2016 release. If the chipset, which is also rumored to be used on the Galaxy S7, ends up on the foldable phone, the device should be both positively eccentric and powerful.

The smartphone, according to rumors, will don only one folded screen that will be made of OLED. The concept will also require a non-removable battery. There's no information regarding the storage options yet but it was mentioned that there will be a micro SD card slot on board the unique Samsung device. As of now, these are the only few points known about the Samsung Project Valley foldable phone. 

How such concept would work and if it will be good enough to sway fans who are used to traditional smartphones to switch over to something totally unconventional are still a mystery. Reports have users hoping that the device will be made official before the upcoming Mobile World Congress 2016, which is said to take place around February or March.