On Monday, LG Display chief technology officer Sang Deog Yeo confirmed in a statement that it would be presenting its first curved screen for smartphones. The company had indicated its own preparations for a smartphone unit with a flexible display.

"LG Display is launching a new era of flexible displays for smartphones with its industry-leading technology. The flexible display market is expected to grow quickly as this technology is expected to expand further into diverse applications including automotive displays, tablets, and wearable devices. Our goal is to take an early lead in the flexible display market by introducing new products with enhanced performance and differentiated designs next year," Yeo said.

The new organic light-emitting diode (OLED) screen would be made in plastic as opposed to the usual glass. LG's confidential technology would enable the phone to bend without breaking. LG said its screens would be the slimmest and lightest ones in the world at 0.01 inch in thickness and 0.21 ounce in weight.

LG Electronics, although facing stiff competition from tech giants Apple and Samsung, reported improved net income at 34.5% for this year's second quarter at KRW3.12 trillion or USD2.78 billion. It had earned much of its gains in smartphones, recording 12.1 million in mobile sales for the second quarter. This was the highest sales record in the South Korean company's history.