Samsung Electronics on Friday denied media reports that the company has sold one million Galaxy Fold smartphones globally since the device's launch in September.

Samsung Electronics President Sohn Young-kwon said at a conference organized by U.S. tech media TechCrunch that the South Korean tech giant has sold 1 million Galaxy Folds so far, double the industry's earlier estimate.

But a Samsung spokesman said Sohn may have confused the figure with the company's initial sales target for the year, saying that sales of the tech firm's first foldable handset have not reached 1 million units.

The Galaxy Fold officially went on sale in September with a price tag of around US$2,000.

It is rumored that Samsung will unveil its new clamshell-style foldable smartphone in February 2020 alongside its Galaxy S11 series.