Whilst news relating to Samsung's Android-powered smart watch remains slim what we do know is that the company will be looking to make an impact this year following the launch of the Samsung Galaxy S4.
Apple are also set to unveil a new iPhone this September so Samsung will no doubt be looking to steal some of the thunder and what better way than with a smart watch.
With smartwear now becoming ever more popular thanks to fitness trackers like the Fitbit Flex and Nike Fuelband smartphone companies have also realised the potential of wrist-worn technology with Sony being one of the first major smartphone manufacturers to start producing a smart watch which will act as a portal to your device.
It comes as no coincidence that as smartphones get bigger we become more and more reliant on using other technology to gain quick access to out emails, texts and calls.
With 'phablets' like the Sony Xperia Z Ultra and the rumoured Samsung Galaxy Note 3 proving that customers are just as interested in screen real estate as they are portability companies have started to look at new ways of interacting with our smartphones without ever having to take them out of our pockets.
Read our Best Smartwatches feature to see the best smart watches of the last 30 years and discover why we've become obsessed with controlling the world through wearable tech.
It'll probably be called the Samsung Galaxy GearUnless Samsung is creating one of the biggest tech diversions in history we're pretty sure that it'll be calling its smart watch the Samsung Galaxy Gear after it was reported that the company had filed for the trademark 'Galaxy Gear' in both Europe and the US.
With Sony already coining the phrase 'SmartWatch' Samsung will no doubt been looking at a way of placing their own unique stamp on the smartwatch market.
Galaxy Gear will come in five different coloursSamMobile are up to their usual tricks and have managed to get insider information on the launch of the Galaxy Gear which confirms that Samsung's Smart Watch will launch in five different colours.
Initially available in White, Grey, Orange and Black the companion to Samsung's range of Galaxy tablets and smartphones will then be available in a special White and Gold a week later. It's not clear if this will be limited to certain regions or if it'll be a global special edition.
Samsung Galaxy Gear will have a price around £200This is nowhere near confirmed but by looking at the current market you're able to guage how much any technology company will price their products in relation to the competition.
For example the Sony SmartWatch 2 costs £159.00 on Expansys whilst the Nike Fuelband costs around £129. If Samsung is looking to release a product that is as flagship as the Samsung Galaxy S4 or the Note 3 then it'll need to be not only premium in the specs department but also an investment financially.
Taking into account the current rumours which point at some pretty high specs along with a considerable amount of connectivity including Bluetooth 4.0 and NFC it would be reasonable to assume that Samsung will price it slightly above Sony's own effort which is, at present, the only main competition.
Samsung will announce the Galaxy Gear release date at Samsung UnpackedSamMobile believe they have confirmed reports that Samsung will not only unveil the Galaxy Gear (SM-V700) but also the Samsung Galaxy Note 3 ahead of the IFA 2013 tech conference in Berlin.
It's believed the Galaxy Gear will act as a companion device for other Galaxy devices like the Galaxy S4, Note 2 and Note 3 and possibly even Samsung's Galaxy tablet range including the Galaxy Tab 8.0.
The Samsung Galaxy Gear will run AndroidGalaxy Gear specs have been pretty thin on the ground but what we can say with relative certainty is that it will be running a heavily skinned version of Android.
Samsung's smart watch could also feature a flexible screen after Samsung's patent filings revealed their plans for a device which would feature a flexible display that would wrap around the users wrist.
The images show a device with a long screen which would bend around the wrist along with two standard Android soft keys at the bottom as found on Samsung's smartphones.
One of the more interesting specs that has been leaked via the patent is the news that the Galaxy Gear will be able to access the internet, send messages and make calls without pairing it to your smartphone suggesting that the device will actually support mobile networks via what would almost certainly have to be a Nano SIM.