Now that South Korean tech giant Samsung's much-awaited foldable smartphone -- the 'Galaxy Fold' -- has passed the final round of tests with "flying colours", the company may soon announce its release date.

Earlier, Samsung Display Vice President Kim Seong-cheol confirmed that the Galaxy Fold's problems have been fixed and it is ready to hit the market, news portal Gizchina reported.

The smartphone was originally set to release on April 26 but the manufacturer indefinitely delayed the device after multiple review units experienced display issues and is now expected to launch in August along with the upcoming Note 10 series phones.

The device features a 7.3-inch primary flexible AMOLED display and a secondary 4.6-inch screen on the cover of the phone.

The premium smartphone comes backed by a 7nm Qualcomm Snapdragon 855 octa-core SoC, paired with 12GB of RAM and 512GB storage.

On the rear, it packs a 16MP + 12MP + 12MP triple rear camera set-up. The device also sports a 10MP camera on the front for selfies.

Connectivity options on the Samsung Galaxy Fold include WiFi, GPS, and USB Type-C.