Samsung may have wowed consumers with its new Samsung Galaxy S6 Edge Plus, but the Korean tech firm is expected to shock its fans even more with the reported release of a foldable smartphone.

Known as "Project Valley," the foldable wallet-sized gadget is reportedly being tested, according to popular Chinese website Weibo (via tech news outlets).

Moreover, the phone is currently being tested for two processors; one runs on a Snapdragon 620 processor and the other is powered by a Snapdragon 820, as per the Weibo user who posted the link.

In addition, each of the phones has 3 GB RAM, a microSD slot, and a built-in nonremovable battery, which only makes sense since the device will be sporting a design slim enough to be folded. The post also hinted that the phone will be unveiled in January 2016.

News about Samsung's foldable smartphone first surfaced in a report from SamMobile. According to the previous report, the foldable gadget is still in its early stages.

In the same report, it was also mentioned that the device will carry the aforementioned specs.

Bendable smartphones from Samsung have been teased before in technology conferences, as reported in Popsci.

Back in 2013, Samsung introduced the Youm OLED bendable displays. According to the tech company, the display made from really thin plastic can maintain high-resolution graphics and is highly flexible that it can be bent without the screen shattering.

It can also be predicted that the foldable device market will soon be an area of interest for many tech companies.

It may be too soon to tell if Samsung will push through with the foldable phone concept, but surely there should be many people looking forward to this type of technology.

Whatever Samsung has planned for, releasing a foldable smartphone is expected to bring major changes to the entire smartphone industry.