Samsung Electronics reportedly plans to release a foldable-screen smartphone early next year. 

The Wall Street Journal(WSJ) on Wednesday quoted people familiar with the matter as saying the foldable-screen phone, being developed under the codename "Winner," has a screen that measures about seven inches diagonally and can be folded in half. 

The sources said that when the phone is folded, its exterior will bear a small display bar on one side and a camera on the other. The sources said the company hopes it will reenergize its slumping handset business. 

WSJ said the new phone will first target specific customers such as mobile game users, but if it is deemed successful, Samsung will commercialize it for larger customer groups from the second half of next year. 

The newspaper said potential overheating could be one of the new device’s challenges as it would require a bigger battery. 

It also warned against its potentially high price due to the necessary powerful components, such as chips, with the sources estimating the price to easily surpass one-thousand-500 hundred dollars. 

Several other phone makers are said to be developing similar models.