Samsung, the tech giant behind industry’s most popular Galaxy Series of smartphones has another ace up their sleeve. It is reported that Samsung is considering the creation of two smartphone models, including one that has the ability to fold like a cosmetic compact.

The device is reported to take advantage of Samsung’s organic light-emitting diodes and could come out as soon as the first quarter of 2017. This can be attributed primarily to Apple Inc’s new breed of iPhones which are expected to unveil later in 2017. The second of the model is reported to bear a 5-inch screen which when unfurled doubles up and becomes as large as an 8-inch tablet.

Samsung, which holds the biggest market share in terms of its OLED panels, has spearheaded the development of new screen formats owing to its multi-sided Edge model of smartphones. The company believes that using advanced display technology may help it recapture the market which is currently dominated by Apple. The second driving force behind new display technology is the fact that Samsung’s earnings have plummeted for the past two years.

Samsung stocks rose a steady 1.5 percent this year owing to this year’s gain while suppliers of Samsung have also seen a steady escalation in their share prices.

Sources close to the company, on the condition of anonymity have said that the company might unveil these products as early as February in the Mobile World Conference held in Barcelona. This timing would give Samsung the head start that they craved for ahead of Apple’s release.

After utilizing their OLED technology in their premium smartphones, Samsung is relying on their display technology to win their orders. Samsung has revolutionized their screen panels by making the colors more bright and vibrant while minimizing the toll on the battery.

It is also being rumored that Samsung is thinking of naming their new Note device as Note 7, overlooking the number 6, altogether to bring them in line with the Galaxy S Smartphone range. It is also reported that Samsung is not considering on bringing the new bendable screens under the Galaxy S name and it would be a different model altogether.

Other reports have hinted that Samsung and Apple have smoothened out their agreements and Samsung has allegedly held talks with Apple to provide them with OLED panels.