Samsung is reportedly working on a new smartphone with a three-sided wraparound display and plans to launch the device in the second half of next year.

Samsung Galaxy Round with curved display in 2013, plans to unveil bendable displays in 2014, foldable ones in 2015, and most recent reports suggest a three-sided wraparound display for Samsung's next Galaxy smartphone. Samsung is moving surprisingly quicker than its rivals in smartphone innovations. This could give the South Korean phonemaker a heads-up in leading the charts but there is also a possible risk of failing in attracting new buyers for the new smarpthones.

Samsung is determined to make new breakthroughs in smartphone technologies. The latest report from Bloomberg, citing "two people familiar with the plans," reveals that the tech giant is working on a three-sided display that would wrap around the edges of the phone allowing users to read messages from an angle.

Each side will function independently and use the company's latest technology, "Youm," already adapted in the Samsung Galaxy Round, according to the report released on Friday. Samsung's three-sided display will be employed in either Galaxy S or Note series, or maybe a whole new lineup of Galaxy smartphones will be launched.

With no specific date for the launch of the new three-sided display smartphone, one person said that the handset is likely to arrive in the second half of next year. Samsung's previous timetable suggested that it will debut a smartphone with bendable display next year. The company might also unveil two different samrtphones, one with bendable and another with the three-sided display, and it  is even possible that Samsung will merge its plans to bring one smartphone integrated with both technologies. While it is too early to draw conclusions, these rumors could be just arrows shot in the dark.

Either way it would be interesting to see Samsung, which is slowly losing its high-end smartphone market to Apple, introduce game-changing technology for smartphones. Apple is also reportedly working on its next gen iPhones with bigger screens, curved glass and enhanced sensors. All this competition leads to one thing, a wide range of options for consumers to choose what is best for them.