The watch will act as an extension of the operating system and is separate from Samsung's efforts, said their source.
In 2011, the company filed a patent for a wearable computer that describes a "smart watch" with a dual-screened "flip-up display", "tactile user interface", and camera. The patent was approved last year.
The company's filing details the reasoning behind having a smart watch, by stating: "A variety of portable user devices provide wireless network connectivity. Various features of a device often require a user to access the device at inconvenient times to perform a desired function. As a result, a user may simply not employ the device to its full capabilities."
Hopefully, we will see at least one these watches released this year. In the meanwhile, check out some of these cool concepts...