The firm is expected to unveil its Galaxy S10 range of phones, with reports suggesting that as many as three devices could be announced at its Unpacked event.
Samsung first announced a folding screen device last year, using what it calls an Infinity Flex Display, a second screen which can be unfolded from within the phone to reveal a 7.3-inch screen that can show up to three apps at once.
During that preview in November, the device was not named or given a release date, but experts predict Samsung will confirm the device on Wednesday in an attempt to outflank rivals also working on folding screen technology.
Fellow smartphone giant Huawei is expected to announce its own flexible screen device at the Mobile World Congress trade show in Barcelona next week.
And although US-based Chinese firm Royole launched its FlexPai foldable phone last year, any announcement from Samsung would mark the first time a major manufacturer has entered the market.
Mobile phones expert Ru Bhikha, from comparison site uSwitch.com, said Samsung was likely to unveil a wide range of new products in order to boost a stagnant smartphone market.
“The much-teased arrival of the first foldable smartphone from a major manufacturer could soon be upon us as Samsung gears up for a bumper launch on Wednesday,” he said.
“Having spoken since 2011 about the concept of a smartphone device that opens out into an expansive tablet, the weight of expectation is on Samsung to deliver something both visually arresting and also intrinsically usable.
“The timing for Samsung is important – the launch of the foldable device is designed to pip Huawei to the post, which was rumoured to be launching its own new handset at MWC next week.
“It will be interesting to see if Samsung decides to take the leap towards 5G and add that to its repertoire as many of its key markets gear up for this next-gen infrastructure.
“With spiralling handset prices and smaller design improvements from device to device creating a feeling of apathy among mobile users, Samsung is hoping to shatter that lethargy and kick the mobile market back into gear.”