LG Electronics is expected to produce more than 100,000 foldable devices in the fourth quarter.
LG started the development of fold-out technology two to three years ago, and currently has more advanced technology than Samsung.
Unlike Samsung, which is first adopting their new technology into its own products such as the Galaxy series, LG may use the technology for other global clients such as Apple or Huawei.
Market research firm Strategy Analytics predicted in the latest report Samsung Electronics may unveil the world’s first foldable phones this year. It also predicted the foldable display market would reach 163 million units by 2022 from 2.7 million units this year.