Gear A Comeback
The global smart device industry is paying attention to whether or not Samsung Electronics' next smart watch will be unveiled along with the Galaxy Note 5 on Aug. 13.
Samsung hasn't released a new smart watch since the launch of the Apple Watch early this year, and Apple's share of the global smart watch market has increased sharply to reach over 75 percent. Prior to the introduction of the Apple Watch, Samsung's smart watches accounted for around 70 percent of the market.
As a result, if the Korean tech giant actively targets the smart watch market by unveiling a new model on Aug. 13, fierce competition between Samsung and Apple in the global smart watch market is expected once again.
According to industry sources and major overseas media outlets on Aug. 2, Samsung is likely to showcase a new smart watch during this year's Galaxy Unpacked event in New York on Aug. 13, together with the Galaxy Note 5 and Galaxy S6 Edge Plus.
The Korean tech company is going to reveal its mobile payment service Samsung Pay at the event, since smart watches are especially optimized to increase the use of the service.
A Samsung official said that its new smart watch will feature Samsung Pay so that the device can be used for public transportation or simple payment services.
To date, Samsung hasn't made specific comments on its next smart watch in the teaser poster. Nevertheless, the company is highly likely to introduce its smart watch to the market within the year, whether it is Aug. or Sept.
Much attention is being paid to whether or not Samsung's next model will snatch market dominance from the Apple Watch.
The Apple Watch comprised 75.5 percent of the global smart watch market in the second quarter of this year, which placed the model in the top spot, according to research firm Strategy Analytics. It means that when the Apple Watch was introduced to the market, it instantly became the most popular model in the smart watch market. Samsung, on the other hand, saw its market share dive from 73.6 percent in Q2 2014 to 7.5 percent in Q2 of this year.
An industry source noted, "The role of Samsung's next smart watch aimed at challenging the Apple Watch is growing, in order for the company to reclaim the top position in the smart watch market." The source added, "With Samsung making a software development kit public to secure killer apps, it has focused on creating an ecosystem for smart watches, as shown by its development of apps suitable for smart watches, together with several business partners and developers. So, competition between the two companies is highly anticipated."