Samsung Stock Price: Introducing Smartwatch Next Month?

on Aug 19, 2013
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iNVEZZ.com, Monday, August 19: Samsung Electronics Co (KRX:005930), the world’s biggest smartphone vendor, reportedly plans to introduce a smartwatch next month, potentially beating arch rival Apple Inc (NASDAQ:AAPL). The New York Times yesterday reported that the Samsung Galaxy Gear would be shown off “around the time” of the electronics industry trade fair in Berlin that begins on September 6. Smartwatches – wristwatch devices that include some features of smartphones – are seen as potentially the next big growth area for electronic gadget makers.

The Samsung stock price was down 0.69 percent at KRW 1,286,000.00 at today’s close in Seoul.
**Galaxy Gear**
The New York Times quoted an unnamed source as saying that “the commercial launch [of the Galaxy Gear] will definitely be this year”. The source also said that the device would not use a flexible screen, as some analysts had expected.
The upcoming unveiling of the Samsung smartwatch was first reported on August 14 on Sam Mobile, a Samsung fan site. The report also suggested that the device might be introduced at the Samsung

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Unpacked Episode 2 event scheduled for September 4. There, the South Korean tech giant is also expected to unveil Galaxy Note III, the new version of its “phablet”.
Samsung has declined to comment.
**Smartwatch race**
The Gear wouldn’t be Samsung’s first attempt in the field of smartwatches, with the company having released its first watch-like phone in 1999. However, this category of mobile electronic devices is now seen as a much more promising market than it was 10 or 15 years ago. There are several smartwatch products already on the market, while other high-profile releases, including the Gear and a device from Apple, are expected to join the race soon.

!m[“Most Important New Product Category” Since iPad Defined Tablets Market](/uploads/story/4917/thumbs/pic1_inline.jpg)
“Smart watches will be the most important new product category in consumer electronics since the iPad defined the market for tablets,” Chris Jones, an analyst at research firm Canalys, said in a statement, as quoted by The New York Times. The firm forecast that the sales of smartwatches would increase tenfold to five million in 2014, as compared with this year.

Sony Corp recently introduced the second generation of its wristwatch-like device, a gadget that works in conjunction with a smartphone in the user’s pocket. The Pebble Watch and the I’m Watch have been already selling for some time but analysts expect that it will be the entry of the world’s two biggest smartphone manufacturers that will unlock the full potential of this market segment.
**The Samsung stock price closed at KRW 1,286,000.00 in Seoul on 19.08.2013**

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