James Martin/CNET

LG will be launching a device featuring a flexible OLED display sometime later this year.

Speaking to the Wall Street Journal on Wednesday, LG vice president of mobile, Yoon Bu-hyun, said that his company has plans to launch a smartphone with a flexible OLED screen in the fourth quarter. According to the Journal, he failed to say what other features it'll have and where it will be offered.

LG is among several mobile companies, including one of its chief competitors, Samsung, eyeing flexible OLED display technology.

The companies envision devices featuring fully flexible screens, allowing for more leniency in product design. At the Consumer Electronics Show in January, Samsung showed off a 5-inch demo unit with a flexible screen. Nokia has also shown off similar prototypes.

A year ago, LG trotted out a design for a flexible display for e-book readers.

Word of LG's plans for a flexible display for smartphones comes just after the company reported somewhat weak first-quarter earnings. The company's $135 million profit was down 74 percent compared to the previous quarter.