U.S. Markets open in 2 hrs 2 mins

Flip phones are coming back in style - but with a twist

Huawei's range of mobile phones will be getting a new model next year.

In less than a year, you could have a flip phone back in your pocket. This isn't your average Razr, though. Huawei plans to equip its foldable smartphone with 5G.

The rumors that have been circulating about the development of a smartphone with a foldable screen by Huawei have been confirmed by the company's deputy chairman, Ken Hu at the World Economic Forum in China this week, according to Forbes. By mid-2019 this new-generation flip phone will be available for purchase.

This device will be the company's first 5G phone -- and it may be the first foldable screen to hit the market if a competitor doesn't beat it to the punch.

At the end of August, Huawei revealed its "artificial intelligence-capable Kirin 980 processor," which is expected to be used in this upcoming model, as well as an OLED display -- a tech that has been in development for years and has only been recently implemented in phones like the iPhone X and XS.

Samsung then heated up the race when its CEO, DJ Koh, stated that the brand's smartphone with a foldable screen would be unveiled by the end of 2018, but neither of them have shown a prototype to the public at this point. The race to the first smartphone with a folding screen has officially begun, but will their users enjoy this retro style phone that manufacturers and designer strived so hard to escape from?