New submitter evansspann sends word that Samsung will be making a smartwatch. Rumors have been swirling for a few months that Apple is working on a 'watch-like' device, but Samsung's CEO was willing to confirm that his company is working on such a product. "We've been preparing the watch product for so long. 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." The companies are now likely racing to be the first to market. Production of such a device will likely be easier for Samsung, since it can produce its own screens and chips. It's also likely to work well with the popular Galaxy Phone lines. However, it will have a tougher time with app distribution than Apple, since it doesn't control Google Play the way Apple controls the App Store. "Apple's critics like to say the company's ideas are obvious, but as some pundits have noted, those very ideas once seemed unimaginable. The smartwatch will be a great test for that theory. It'll be interesting to see if Samsung can strike first in a nascent category and still rival Apple's work."