A report by Bloomberg says that Samsung plans to release a three-sided Galaxy smartphone that wraps around the edges allowing users to read messages from an angle.

According to the two unnamed sources of Bloomberg, the smartphone will use the upgraded version of the technology called Youm. Youm is a Samsung technology that was used in the recently released curved Samsung Galaxy Round smartphone.

The Samsung Youm technology was showcased at the Consumer Electronics Show in Las Vegas in January. The unidentified source said that the three-sided display can be used in the Note or S series of premium smartphones or a new line. Furthermore, Samsung plans to make every side of the three-sided display work independently.

"We'll see curved displays coming into the market, but it's just a question of whether they will gain any significant traction with customers," said Van Baker, director of research at Gartner Inc.

Currently, Samsung does not have a release date for the three-sided smartphone just yet, although it was reported that the smartphone is likely to be released during the second half of 2014. However, there are still no official statements made as the spokeswoman for Suwon, South Korea-based Samsung, Chenny Kim declined to comment about it.

With the unveiling of the Samsung Galaxy Gear smartwatch and registering a patent for eyeglasses capable of answering phone calls while doing other activities, it is safe to say that Samsung is undoubtedly diversifying its product portfolio and expanding its use of flexible displays.

Last year, Samsung filed a U.S. trademark application for the Youm, saying that it could be used in computers, televisions, smartphones, Christmas tree lights and cars.

"Samsung is the dominant player," Lee Do Hoon, an analyst at CIMB Group Holdings Bhd (CIMB) in Seoul, said. "That gives it a competitive advantage over Apple in the race to make phones with bendable displays."

Curved displays might be a technology in search of a problem to solve, further said by Gartner's Baker. Samsung may offer a test case as they have shown willingness to test waters and release innovative products in the market to see if they gain favour with the customers, he said.