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Samsung smartwatch now in the works, says exec

Samsung is currently working on a smartwatch that will allow it to compete with the companies that have recently been releasing such devices.

samsung

The official announcement comes from Samsung mobile business executive vice president Lee Young Hee in an interview in South Korea.

Says Lee, the smartwatch is among the products that the Samsung team is presently developing. As to what features the smartphone will have in the future, as well as how much it may cost, Lee remains silent.

Samsung is busy this year with preparing for the release of three handsets targeted at the high-end market segment. Last week, the South Korean electronics giant took the wraps off the hotly-anticipated Galaxy S IV, which is their Android-based flagship smartphone for 2013. Another smartphone running on the Tizen operating system is also expected to be unveiled this year.

Samsung’s smartwatch will allow it to compete with its fierce rival, Apple. It would be recalled that around last month, the Cupertino-based company stated that it has already started developing its own smartwatch. Apple’s device will come with features that are similar to those found on the iPad and the iPhone, like many of the smartwatches that have already been released by other companies. Among the features that the Apple smartwatch could have are an ability to make calls using the smartwatch and track health data. Other smartwatches that are available in the market also function as a music player, and have the capability of displaying information, such as new messages, or social media updates on the display of the smartwatch.

According to Bloomberg, the sales this year of the watch industry worldwide is estimated to top $60 billion. It is expected that the companies which are able to release watches that function with other smart devices, such as tablets, phones, and televisions, will be at an advantage, as they will be able to encourage consumers to stay within their platform. Likewise, this is predicted to help increase the sales of said smart devices.

Meanwhile, Samsung and Apple’s decision to offer more diverse products will help them to cope with the almost-saturated smartphone market. Such saturation leads to weaker demand, something that both Samsung and Apple have already begun to experience, given the figures of their sales growth.

Globally, Samsung is occupying the top spot as the largest smartphone maker, with 29 percent of shipments in Q4. Apple follows with 21 percent of shipments.

via bloomberg