Looks like good news for Galaxy fans who have been clamoring for Samsung's highly speculated foldable Galaxy X phone, internally bearing the codename Project Valley as they might soon have something to cheer about.

Multiple reports in the past have indicated that Samsung is hard at work on five Galaxy flagships in 2017, with a foldable Galaxy X having 4K resolution among them. Regrettably, Samsung remained tight-lipped about the device's launch date.

But things are about to change as Samsung is now reportedly gearing up to finally take the wraps off its Galaxy X smartphone. An acclaimed Chinese tech tipster @mmddj_china, hinting at a Q3-Q4 2017 release date for the device through a tweet.

This echoes Hyundai Securities Kim Dong-won's prediction in his last report indicating that Samsung will debut its first foldable smartphone this year. Other manufacturers will then follow suit, SamMobile reported.

Another tweet from Nashville Chatter further divulged that more details about Samsung Galaxy X have surfaced online via new patents hinting at a variable curvature display in the offing. The first patent alludes to a fold-out design for the long awaited Galaxy X smartphone.

The bending and flexing movement of the handset will be made possible with the help of a hinge placed in between both displays. Moreover, there's word floating around that Samsung plans to equip the device's display with a sturdier glass than Corning's Gorilla Glass.

The next two patents point to forthcoming Galaxy smartphone design. If that one diagram is taken into consideration, it shows a device with curved edges on the front just like the Galaxy S7 edge with a flat Galaxy S5 Neo on the back.

So, there is a possibility that the aforesaid smartphone designs may be associated with Galaxy S models. The last patent, on the other hand, shows a diagram that is reminiscent of the Galaxy Note 4/Note Edge design, sporting curved edges on both sides.

Contrary to previous reports, Samsung will not oust the standard home button and headphone jack from its next flagship smartphone. Both the trademark physical home button and headphone jack seem to remain on these new Samsung Galaxy X models. Meaning, these devices would bear affordable price tags.