Popular leaker Ice Universe (@UniverseIce) took to Twitter on Sunday and posted a tweet saying "Bloom is just a code name..." and that "the real name is Galaxy Z ****". Later he shared a photo showing the official name of the device as Galaxy Z Flip.
Earlier, Samsung apparently showcased the device to partners and carriers at a secret meeting held at CES 2020 in Las Vegas.
The device will be able to record 8K video, and a 5G version will be released in South Korea.
Ice Universe had also earlier claimed that the upcoming fold may have an "ultra-thin glass display" instead of plastic.
The South Korean tech giant had also applied for trademarks in Europe for Samsung Ultra Thin Glass or UTG and according to sources, this will be the material used for its next foldable.
The upcoming foldable phone is expected to cost around $1,000.
The current Galaxy Fold handset is priced at nearly $2,000 which is not an amount most people are willing to pay and is not accessible to a larger segment of the population.
Additionally, the same tipster recently shared a tweet saying that instead of opting for S11e, S11 and S11+ nomenclature, the company would opt for S20, S20+ and S20 Ultra naming for its flagship series. This means that Galaxy S20 will succeed S10e and S20+ will succeed S10.
In terms of specifications, the upcoming smartphones will use an Exynos 990 in some markets and a Snapdragon 865 in the majority of markets.
The base variant, that is, Galaxy S20 is expected to feature a 6.2-inch screen, S20+ is expected to sport a 6.7-inch screen.
Meanwhile, the top variant Galaxy 20 Ultra is likely to come with a 6.9-inch screen.
( With inputs from IANS )