Sources tell Bloomberg that the South Korean electronics giant plans to debut a smart watch called the Galaxy Gear on September 4. The Galaxy Gear will reportedly be able to receive emails, browse the web and place and receive telephone calls.
Samsung will show off the new smart watch in Berlin ahead of the start of the IFA consumer electronics expo. The unveiling will also come less than a week before recent rumors say Apple is set to unveil its much awaited new flagship smartphone, the iPhone 5S, on September 10.
Rumors have been percolating since last year that Apple has been developing a smart watch that would connect with other iOS devices, including the iPhone. It has reportedly assigned a team of 100 designers and engineers to the project. However, Apple’s smart watch is not expected to be revealed until 2014.
A number of other companies, including Google (GOOG) and even Microsoft (MSFT) have previously said they were working on their own smart watches. Watches generate $60 billion in annual global sales. A smartwatch could help reinforce technology brand ecosystems and boosting consumer loyalty.