South Korea's Samsung Electronics has announced the Galaxy Round, the world's first smartphone with a curved screen.

The Round's 5.7-inch display, made from flexible materials, is curved along the vertical axis, curving from left to right.

The screen's shape allows the entire device to be curved, a feature intended to provide a comfortable hand grip feeling to the user, Samsung said in a release.

Other than the shape, the smartphone's specifications are nearly identical to Samsung's Galaxy Note 3 introduced last month.

The Round runs the Android 4.3 operating system with Samsung's own TouchWiz enhancements.

So far, the Round is only available in South Korea at a price of $1,000. Samsung has not said whether or when other markets would get the curved device.

South Korean competitor LG has announced a curved-screen smartphone, expected next month.