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Samsung Smart Watch in the Works
By Michael Low & Sidney Wong - on 19 Mar 2013, 3:29pm

Samsung Smart Watch in the Works

 Image source: Engadget

With rumors of Apple building a smart watch circulating in the past three months, it is no surprise that Samsung has come clean on its plans to produce a similar product.

According to Bloomberg, Samsung executive vice president of mobile business Lee Young Hee said in an interview that the company has been preparing the watch product for a very long time.

Bloomberg - “We’ve been preparing the watch product for so long,” Lee Young Hee, Executive Vice President of Samsung’s Mobile Business, said during an interview in Seoul. “We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them.”

However, Lee declined to share more information on the features and price of the watch. As for the launch and availability of the watch, Lee went on to say that it is important to be the first to commercialize the product so that consumers can use it meaningfully.

Arch rival Apple is also said to be building a Bluetooth Smart Watch which it will be releasing later this year. Bloomberg reported last month that James Foster, senior director of engineering, and Achim Pantfoerder, a manager at Apple are part of a 100-man team working on the device.

It seems that a race is going on between the two rival companies to capitalize on the growing global watch industry, which is expected to generate more than US$60 billion in sales this year.

Source: Bloomberg via Engadget