Bloomberg: Just Like Apple, Samsung Is Developing A Smartwatch

(4:29 am PDT, Mar 19th)

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Apple is expected to unveil its first smartwatch sometime this year, and there’s one company who will be right on its tail, competing for sales. As you may have already guessed, that company is Samsung.

Lee Young Hee, executive vice president of  the Korean company’s mobile business, confirmed the move during an interview with Bloomberg.

“We’ve been preparing the watch product for so long,” Lee said. “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.”

Unfortunately, Lee did not reveal what features Samsung’s new smartwatch might have, or how much it would cost, or when it would go on sale. All he could confirm is that the company is working on it.

Could it be that Samsung is waiting to see what the competition (Apple) has to offer before bringing its own hand to the table? Don’t be so cynical.

Bloomberg reported back in February that Apple has over 100 product designers currently working on its “iWatch,” which the company is reportedly pushing to launch this year. The device is expected to work alongside iOS devices like the iPhone and the iPad, and allow you to read your messages, see incoming calls, control media playback, and more.

The global watch industry will generate more than $60 billion in sales during 2013, and although there are already a number of smartwatches on sale today, it’s thought that a device from a company like Apple could really kickstart the smartwatch revolution.

Apple and Samsung are turning to smartwatches at a time when the global smartphone market is approaching saturation. Growth is expected to slow to 9.8% in 2017, from 27% this year, according to Bloomberg’s data. And even Apple and Samsung — currently the most successful smartphone vendors — are feeling that pinch.

Apple’s sales growth last quarter was its slowest in more than two years, while Samsung back in January warned of slowing demand for its own devices.

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Comment »

  • Roger_Ramshit

    Of course they are light on details…they are yet to see what Apple produce before they know what their product will have!

  • Dirk Dewit

    Great. Now they’re even copying the rumours.

  • http://www.facebook.com/calmasacow James Barnette

    Samsung Should just rename the company to “US Too, Inc.”
    Jesus! it’s like all they do is wait for someone to do something, then try to do it cheaper.

  • digitaldumdum

    But UNlike Apple, whatever kind of Samsung iWatch thingie Samsung develops will be a complete flop. (Read: Zune)

    • http://twitter.com/markrlangston Mark Langston

      The Zune was actually from Microsoft.

      • digitaldumdum

        Yeah, I knew that. Just trying to express that imitation, rather than innovation, is rarely embraced by an increasingly savvy, expectant consumer.

        But thanks for the edification, Mark.

  • http://www.facebook.com/people/Jolly-Rogger-Z/1051755557 Jolly Rogger Z

    All the “me too” users of Apple and their stupid complaints about Samsung…. Grow up kids! :D

  • FriarNurgle

    Don’t care if you are an Apple or Android fan, competition is good. Really looking forward to the advances that competition will bring to wearable tech.

  • http://twitter.com/markrlangston Mark Langston

    NOW can we call Samsung a shameless copy cat of Apple?! Come on people. I’m not saying you have to bow to the will of Apple or denounce Samsung but you certainly can’t claim that Samsung is this righteous, otherworldly innovator that trumps Apple at every turn. They are and forever will be nothing but a shrill peaking over Apple’s shoulder for direction.

    At least Glass is something different. While I’m not a fan of Glass I can see where it could be useful and, again, it’s a different approach to wearable tech. Why couldn’t Samsung think of another form of wearable tech? What other ideas are there? Great question and it’s something the so-called innovators at Samsung should be able to answer. Instead their only idea is Apple’s idea(s) then copy & paste.

About the author

Killian BellKillian Bell is a freelance writer based in the UK. He has an interest in all things tech and also writes for TechnoBuffalo. You can follow him on Twitter via @killianbell, or through his website.

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