SAMSUNG PLANS ON MAKING A SMART WATCH TO RIVAL THAT OF APPLE AS THE RIVALRY HEATS UP

iPhone 5, right, and the Samsung Galaxy S III smartphones.

Building on its escalating rivalry with Apple, electronics giant Samsung revealed on Tuesday it is developing a wristwatch-like device that could rival the capabilities of today’s powerful smartphones.

The disclosure adds to the emerging battle in the wearable electronics category as Google has begun showing off its futuristic Google Glass eye wear and Apple is reportedly experimenting with a wristwatch made of curved glass that would operate on the iOS platform.

“We’ve been preparing the watch product for so long,” Lee Young Hee, executive vice president of Samsung’s mobile business, told Bloomberg News. 

“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.”

APPLE'S iWATCH

It’s not clear how much the new Samsung device would cost nor when it may be available to consumers.The Samsung wristwatch-like device would perform many of the tasks of a smartphone, Reuters reported.