Samsung working on wristwatch, joins Apple - source

SEOUL Tue Mar 19, 2013 2:34pm IST

The company logo is displayed at the Samsung news conference at the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Rick Wilking/Files

The company logo is displayed at the Samsung news conference at the Consumer Electronics Show (CES) in Las Vegas January 7, 2013.

Credit: Reuters/Rick Wilking/Files

Related Topics

Stocks

   

SEOUL (Reuters) - Samsung Electronics Co(005930.KS) is developing a wearable digital device similar to a wristwatch, a source with direct knowledge of the matter said, joining rival Apple Inc(AAPL.O) in creating new products as growth of smartphone sales slows.

The Samsung device will perform many of the tasks of a smartphone, the source said on Tuesday, without giving further details.

The source declined to be identified because Samsung did not want to reveal to the public any information about its new product line at this time.

Samsung would not discuss its detailed product pipeline. "We are constantly exploring new technologies and developing various form factors," said company spokeswoman Chenny Kim.

Last month, the New York Times reported that Apple was experimenting with the design of a device similar to a wristwatch that would operate on the same platform as the iPhone and would be made with curved glass.

Shares in both Samsung and Apple have taken a hit as the world's top two mobile device manufacturers keep underwhelming consumers with their latest smartphone models.

Samsung shares dropped nearly 5 percent, or around $10 billion, in just two trading sessions after it launched its latest Galaxy S smartphone late on Thursday, partly hit by concerns that its flagship product lacks the 'wow factor' and may not live up to expectations.

The Galaxy S4, unwrapped to much fanfare in New York to challenge Apple's iPhone on its home turf, offered some incremental evolutionary improvements, but media reports have since suggested these features may not be sufficient to excite buyers in an industry that lives and dies by innovation.

(Reporting by Miyoung Kim; editing by Miral Fahmy)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Rising Star

Reuters Showcase

Cybercrime

Cybercrime

Hacker sentenced to 21 months in U.S. prison for $15 mln scheme.  Full Article 

Printed Instruments

Printed Instruments

3D printed instruments make sweet music in Sweden.  Video 

Tweet Debut

Tweet Debut

Britain's Queen Elizabeth sends her first tweet.  Full Article 

Artificial Intelligence

Artificial Intelligence

Google bolsters artificial intelligence efforts, partners with Oxford.  Full Article 

Fighting For Workers

Fighting For Workers

Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ.  Full Article 

Future Uncertainty

Future Uncertainty

Ericsson flags North America slowdown.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Looking To Sell

Looking To Sell

HP seeking buyers for corporate-networking business in China - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage