Samsung said Thursday it will hold an event on Feb. 20 in San Francisco where it's expected to unveil its next flagship phone, the Galaxy S10.

The phone is expected to be the first major smartphone that supports 5G wireless networks, the faster wireless standard that carriers are deploying this year. Another version of the phone is said to have a foldable screen.

Samsung announced in July it had developed foldable screen technology, but since then, the company has been beat to the punch in launching the technology in a product. Startup Royale launched its FlexiPai mobile phone at a conference in Beijing in November. Samsung lowered its Q4 guidance earlier this week, citing competition in the smartphone market as a reason for missing expectations.

For its tenth anniversary phones, Samsung plans to roll out three versions of the Galaxy S10 with different display sizes starting in March, then roll out a fourth later in the spring that would include 5G network capability, the Wall Street Journal reported. Samsung has reportedly told partners the foldable screen phone may be released as early as April, though a date and name have yet to be set. The company is considering names including "Fold," "Galaxy Fold" and "Galaxy F," the WSJ reported.

The foldable phone has already been delayed, after Samsung initially said customers should expect a launch in 2018. Samsung showed a prototype of the foldable phone in November. The phone folds open to act more like a tablet.

Samsung moved up its launch date for its S10 series in order to preempt Huawei's expected unveiling of a foldable-screen competitor at a Barcelona trade show in late February, the WSJ reported.

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