Samsung might have carved its own niche going head on against Apple in the smartphone arena, it’s well on  track to take on Apple’s rumoured smart watch market. Samsung has confirmed to Bloomberg the rumors that it’s working on a smartwatch to rival Apple’s product.

Samsung’s mobile tech vice president Lee Young Hee has confirmed that the South Korean company  is working on the development of wearable technology.

“We’ve been preparing the watch product for so long,” Lee Young Hee, said during an interview in Seoul. “We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them.”

Samsung’s smart watch screenshots appeared last month on Slashgear showed a 500×500-pixel touchscreen device running a new operating system supposedly named AltiusOS.