This smartphone is codenamed Project Valley (it's also called Project V) and is in extremely early stages of development, and its ambitious nature means it might even be terminated at any time, something that happens with a lot of such projects. The device will support multiple gestures for switching between its two screens, and the fact that it is codenamed Project V/Valley suggest it could be a foldable device (the letter V is similar in shape to what a valley would look like, and it wouldn't be too far-fetched to think the phone could feature two sides that fold together.)
Rumors earlier this year had hinted that Samsung could release foldable devices by 2016, and if our information is accurate, the Korean giant could indeed be hard at work on meeting that deadline. Again, there is no guarantee Project Valley will ever be showcased to the public, but it's a clear indication that Samsung is making unique smartphone form factors an area of focus in order to keep its stronghold in the mobile industry.
