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

ALIBABA IPO

Reuters Showcase

Ellison Quits

Ellison Quits

Oracle's Ellison steps aside, co-CEOs Catz and Hurd take over.  Full Article 

Cutting Jobs

Cutting Jobs

Microsoft lays off 2,100 as part of earlier job cut plan.  Full Article 

Robot Tech

Robot Tech

Qualcomm shows off robot technology, but mum on China dispute.  Full Article 

Hardware Push

Hardware Push

Amazon expands Kindle lineup, boosts price of basic e-reader.  Full Article 

Banking on PlayStation

Banking on PlayStation

Sony hopes for PlayStation profit boost as smartphones struggle.  Full Article 

Apple Update

Apple Update

Bug delays Apple's HealthKit availability on iOS 8.  Full Article | Related Story 

Infosys -Huawei Deal

Infosys-Huawei Deal

Infosys partners with China's Huawei for cloud-based projects  Full Article 

New iPads

New iPads

Apple to unveil new iPads, operating system on Oct. 21 - report.  Full Article 

Reuters India Mobile

Reuters India Mobile

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