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Now Samsung steals a march on Apple with a new wristwatch


By Noel Young, Correspondent

March 19, 2013 | 3 min read

The competition between Apple and Samsung became even more frenzied today as it emerged that Samsung intends to launch a wristwatch - weeks after reports circulated that Apple too was on the job.

One idea of what the Apple watch might look like

The two giants are out to create a new industry of wearable devices that perform similar tasks to smartphones, according to Bloomberg.

“We’ve been preparing the watch product for so long,” Lee Young Hee, executive vice president of Samsung’s mobile business, said during an interview in Seoul.

The confirmation that Samsung is on the job puts it a step ahead of Apple, who have not confirmed their own project, as is their usual practice.

Lee said, “We are preparing products for the future, and the watch is definitely one of them.”

He did not say what features the watch might have, how much it would cost and when it would go on sale.

The South Koreans are to release three high-end smartphones this year- including the Galaxy S4 launched in New York last week.

People familiar with Apple’s plans said last month the US company has about 100 product designers working on a wristwatch-like device that may perform similar functions to the iPhone and iPad.

Samsung may be able to undercut Apple on price because the Korean company makes its own displays and chips, Will Stofega, programme director at International Data Corp. told Bloomberg.

Laurence Balter, chief investment strategist at Oracle Investment Research said, “This is a new category that Apple is trailblazing that will see competition from Samsung.

“If I were Apple, I’d strategically price the watch as low as possible to bring as many as possible into the ecosystem."


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