The new device is said to be on its way for release next month, meaning Samsung will have beaten Apple to the punch in the race of the smartwatch, which has been going on for some time now.
The Galaxy Gear will be able to make calls, surf the web and handle emails - as well as tell the time, obviously.
The watch will be unveiled on the 4th September just before the IFA consumer electronics show in Berlin and the same day as the Samsung Galaxy Note 3. Apple's iWatch experienced a bit of bother last month as it suffered from hard engineering problems causing its release to be delayed, meaning it has been left behind and could prove to be damaging to its fan-base as the Android powered device will attract new customers to the platform, potentially boosting sales of smartphones, tablets and even TVs.
The Galaxy Gear won't unfortunately have a flexible screen as previously rumoured, however Samsung are still working on developing a bendable display.