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Samsung confirms development of Galaxy Smart Watch

Apparently, the Galaxy S4 is just the tip of Samsung's ambitions for 2013 - the South Korean electronics giant is also readying a smart watch product to take the world by storm this year.

Rumours of a 'Galaxy Watch' gained traction ahead of the launch of the Galaxy S4 handset, but while intriguing peripherals like the S Band fitness accessory broke cover in New York City on 14 March, a smart watch wasn't among the products unveiled.

However, Samsung VP of mobile business Lee Young Hee has apparently confirmed that a watch-like gadget is indeed in the pipeline, though he stopped short of dropping hints about functionality, pricing, or an expected arrival date.

"We've been preparing the watch product for so long," Hee revealed in an interview with Bloomberg.

"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," he added.

Samsung's bitter rival Apple is also understood to be preparing a smart watch offering based on its iOS software, with wearable technology widely regarded as the next big consumer electronics market.

According to Hee, it's not simply a case of speedily pushing out a smart watch, but creating a genuinely useful product that consumers will value.

"The issue here is who will first commercialise it so consumers can use it meaningfully," he commented.