Why it matters: A lot of focus is on Samsung's recently unveiled folding phone tech right now, but we've known for a while that other companies, including Huawei, are working on similar devices. Now, the Chinese giant has reportedly presented its finished version to Korean carriers at a private event.

According to Korean publication ET News, Huawei's device will arrive next year. The exact date isn't certain, but it will reportedly be unveiled at Barcelona's Mobile World Congress in February/March before launching sometime in June.

Samsung's foldable device, which is expected to be called the Galaxy F or Galaxy X, measures 7.3 inches when opened up, but Huawei's flexible phone has it beat with an 8-inch screen manufactured by BOE. It also appears to be almost completely free of bezels. When folded up, the screen measures 5 inches, again beating the Galaxy F/X's 4.6-inch display, though unlike Samsung, Huawei has decided to include a notch.

An official said the phone would come with 5G support, which means it could be released in South Korea first, where many carriers already support the technology. It's been reported that the Galaxy F/X won't have 5G, which would be disappointing for a phone with a rumored $1800 price tag.

Back in October, Chinese firm Royole became the first company to unveil a foldable phone---the FlexPai---though it doesn't look particularly spectacular in Ice Universe's tweet.

We could see other big phone manufacturers, including LG, show off folding phones at MWC. With their astronomical prices, it seem like they'll become a fairly niche product, but that hasn't stopped firms jumping on the bandwagon.