Samsung Electronics Co. is set to release a new foldable smartphone that folds like a clam in February before the release of the upcoming flagship Galaxy S11 next year, industry sources said Sunday.

The South Korean tech giant is currently in talks with the country's three mobile carriers to release its second foldable smartphone at home, with a goal of releasing it in February, according to the sources.

Samsung Electronics will hold its Unpacked event in the United States in mid-February, where it will provide more details on the new foldable phone, they added. The foldable model immediately will be available for sale.  

Samsung Electronics declined to comment on the release schedule of the new foldable smartphone.

Earlier this year, Samsung Electronics released the Galaxy Fold that has a 7.3-inch screen that users can fold like a book.

The new smartphone is expected to boast a 6.7-inch display and becomes nearly square when folded.

Compared with the Galaxy Fold, which came with a price tag of around $2,000, the new foldable version will be available in the mid-$1,000 range, sources added.

Samsung's rush to release the model in early 2020 apparently came as other global brands, including Motorola and Huawei, are set to release similar models early next year.

The South Korean tech giant currently plans to sell 6 million units of foldable models in 2020.

The name of the Samsung's new clamshell-type smartphone has not yet been decided. Samsung plans to release a second generation of the Galaxy Fold in late 2020 as well.

While the new foldable smartphone will run on the fourth-generation long-term evolution network, the Galaxy S11 will be available only for the fifth-generation network. There are also rumors that Samsung may adopt a new name for the upcoming flagship, such as the Galaxy 20, to mark the new year. (Yonhap)