Samsung is also developing a smartwatch

It's been widely reported that Apple is working hard on an upcoming iWatch that may be released as early as this year. But Apple may not be the only company developing a smart wristwatch these days.

It's been widely reported that Apple is working hard on an upcoming iWatch that may be released as early as this year. But Apple may not be the only company developing a smart wristwatch these days. Bloomberg is reporting that Samsung is also busying itself with developing a smartwatch of sorts.

During a recent interview, Samsung executive VP Lee Youhg Hee explained, "We’ve been preparing the watch product for so long, 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.”

"The issue here is who will first commercialize it so consumers can use it meaningfully,” Lee added.

Samsung’s disclosure comes after people familiar with Apple’s plans said last month the U.S. company has about 100 product designers working on a wristwatch-like device that may perform similar functions to the iPhone and iPad. The global watch industry will generate more than $60 billion in sales this year, and the first companies to sell devices that multitask could lock customers into their platform, boosting sales of phones, tablets and TVs.

Now, given Samsung's propensity to shamelessly copy every successful product from Apple, it's certainly easy to scoff at Samsung's assertion that they've been preparing a watch product for a long time. That said, they have released smartwatches before, though nothing anyone would ever actually want to own.

For instance, there was the Samsung S9110 watchphone, a clunky device Samsung released in 2009 in the $700 range.

And going even further back, all the way back to 1999, it released this monstrosity of a watchphone dubbed the SPH-WP10.

Rest assured that if Apple does come out with a smartwatch, it will look nothing like anything Samsung has ever come out with.

via Bloomberg

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