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Samsung confirms smartwatch in development to take on unannounced Apple ‘iWatch’

Samsung Smartwatch Confirmed

It’s not every day an executive at a major public technology company will go on record and confirm an unannounced product, but Samsung’s (005930) mobile boss seemed happy to be the exception to the rule on Tuesday. Speaking with Bloomberg, executive vice president of Samsung’s mobile business Lee Young Hee confirmed that Samsung is developing a smartwatch to take on the unannounced “iWatch” that Apple (AAPL) is reportedly developing.

“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.”

The executive wouldn’t share any additional details or projected pricing, but she did acknowledge that Samsung is racing Apple to launch its smartwatch first. “The issue here is who will first commercialize it so consumers can use it meaningfully,” Lee said.

Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

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