Smart Watch Market

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Samsung Electronics has revealed its latest smart watch, the Gear S3, at the IFA, the largest consumer electronics exhibition in Europe. Competition is heating up in the smart watch sector, as Apple will also introduce a new model.

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Samsung Electronics has released its latest smart watch, the Gear S3 with the ambitions of curbing Apple's dominance. The new Samsung gadget, the result of a collaboration with a renowned designer, looks more like a traditional wrist watch.

[Soundbite] Lee Young-hee(Vice president, Samsung Electronics)

It is bigger than the previous model and equipped with more functions. It's possible to make phone calls and credit card payments on the smart watch, even without a connection to a smartphone, The new model is equipped with functions needed for leisure activities, such as a GPS, an altimeter and a speedometer. The emphasis is on the smart watch's independence from a smart phone. Apple, the world's largest smart watch seller, will reveal Apple Watch 2 next Wednesday. Apple retained overwhelming dominance in the smart watch market last year.
But Samsung is closely behind the U.S. IT giant this year. With the new releases from Samsung and Apple, competition in the smart watch market is expected to become fiercer than ever in the second half of this year.