Samsung sent out invitations Friday for an October 11 event to launch a new mobile device under its Galaxy line.

The invitation offered few details but the mention of "4x fun" led to speculation the about a new smartphone with four cameras or possibly a foldable handset.

The South Korean electronics giant, the world's leading smartphone maker, unveiled its latest flagship Galaxy Note 9 in August.

Samsung and other device makers are looking for ways to boost momentum in a sluggish smartphone market.

Research firm IDC expects worldwide smartphone shipments to decline 0.7 percent in 2018 to 1.455 billion units, with growth likely to resume as 5G devices become available.

Despite its leadership position, Samsung saw a 22 percent drop in mobile technology sales in the second quarter.

The news from Samsung comes days after Apple unveiled a new lineup of iPhones focusing on the premium smartphone segment at prices starting between $749 and $1,099 for US customers.

Apple recently slipped to third place in the smartphone market behind Huawei, even though the Chinese firm's sales in the United States are limited.

Google, which is looking to gain ground in the premium segment with its own branded handsets, has scheduled a media event October 9 expected to unveil its updated Pixel handsets.

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