- Samsung is set to launch a new smartwatch at an event next week under the Gear brand
- The unveiling will happen at the IFA consumer electronics show in Berlin
- Samsung's planned launch next week would come ahead of the next Apple Watch
Samsung is set to launch a new smartwatch at an event next week under the Gear brand, the electronic giant's mobile head told CNBC, just days before Apple is expected to unveil its next wearable.
In an interview with CNBC DJ Koh, the president of Samsung's mobile division, said that the next generation of the Gear S series of smartwatches will be launched at IFA next week, a consumer electronics trade show in Berlin.
Samsung has been prolific when it comes to its wearable launches. It launched two versions of the Galaxy S3 smartwatch in August 2016, and currently sells a fitness band called the Gear Fit.
The wearable market hasn't exploded as many had expected, but it has been growing. Wearable shipments hit 102.4 million units in 2016, marking a 25 percent year-on-year rise, according to data from IDC. In the first quarter of 2017, Samsung shipped 1.4 million wearables, growing over 90 percent year-on-year, holding 5.5 percent market share, IDC data showed.
In contrast, Apple has a more than 14 percent market share.
Samsung's planned launch next week would come ahead of the next Apple Watch, which sources told CNBC recently could be launched in September alongside new iPhones.
The executive could not reveal specific product details about the upcoming device.
Koh admitted that the wearable market hasn't grown as much as people expected because devices are not providing enough useful features to consumers.
But health care applications could be something that helps the market grow.
"If we can put in place properly a smartwatch that can monitor everything for your health and provide the information, then the market will grow," Koh told CNBC.
Samsung has been making a slow move into the health sector. It has an app called Samsung Health which can monitor signs such as heart rate and stress level through sensors on its phones and wearables. While health applications could boost the wearable market, Koh said sensor technology is not quite up to scratch.
"Today's sensors do not look like enough," Koh told CNBC.