The sale is intended to help pay inheritance taxes and repay loans after the 2020 death of Samsung patriarch Lee Kun-hee.

The company’s core social media business turned cash-flow positive, though new investments continued to weigh on profitability.

The features will first launch for English-language users in the US, the UK, Canada, and Australia.

The device features two hinges, allowing it to function as both a standard smartphone and a larger tablet when unfolded.

Chan told Bloomberg that the IPO pipeline is "very strong," with many mainland Chinese firms choosing Hong Kong as a fundraising platform.