No specifics were provided on how the watch will function, other than it will not feature a flexible display, as had been rumored in previous reports. "The new device will enhance and enrich the current smart mobile experience in many ways," said Lee. The smartwatch appears to be the first dip into the wearable computing business for Samsung. Other companies including Microsoft, Google and Apple have all been rumored to be developing their own smartwatch. The trend has taken off this year with the release of devices such as Pebble, which allows users to stream emails, text messages, social updates and more from their iOS or Android smartphone to their watch. The introduction of a smartwatch by Samsung could also undercut Apple's unveiling of its next iPhone, which happens one week after the Samsung event.