The company has already launched the Galaxy Round and the Galaxy Note Edge, two new devices with unique curvatures. Apparently, the tech company plans to give more than just phones with curved displays. It targets to mass produce a smartphone with a display flexible enough to be folded in half.

Lee Chang-hoon, Samsung's vice president of Samsung Display, which is the company's business strategic team made the announcement during the Samsung Investor Forum2014 held in New York. According to Lee, their company will secure production of 30,000 to 40,000 flexible displays each month by the end of 2015. He also said that they aim to achieve great production capacity by 2016, ZDNet reports.

Lee also adds that they plan to provide consumers with product that has flexible display by the end of the year; however, none has been decided on the finished product. Motivated by the warm market reception of the Galaxy Note Edge, Samsung is planning to expand its product-line of flexible-display smartphones. On the other hand, Samsung Display is currently working on the expansion of its A3 line, which is the same line that produced the curved display for the Edge.

The VP for Samsung Display also revealed that in order to entice more consumers, the company is planning to lower production cost of AMOLED, which is currently more expensive than LCD. He also mentioned that AMOLED is similarly priced with LCD but performs much better.

On the other hand, the company will cut down the number of smartphones they will produce by one fourth to one third in the coming 2015, according to Robert Yi, senior vice president and head of investor relations at Samsung Electronics who also shared this information at the Samsung Investor Forum 2014 event. This decision is the result of having too many phones and too many different models which doesn't help in establishing proper product identification and thus deterring brand image.

Finally, Samsung is designing the Galaxy S6 from scratch and the company is also working hard with its plan to build a brand new family of smartphones. Recently, a report from BGR reveals that Samsung also suggested the Galaxy S6 could possibly have the "Edge" displays on both sides of the screen.