The watches would function similar to smartphones.
Samsung is reportedly developing a new Wristwatch, to take on a similar device being developed by Apple.
The South Korean firm along with Apple aim to create a new industry of wearable devices that have similar functionalities as smartphones.
Samsung mobile business executive vice president, Lee Young Hee, said the company has been preparing the watch product for quite a while.
"We are working very hard to get ready for it," Hee said. "We are preparing products for the future, and the watch is definitely one of them."
Earlier reports claim that Apple was trialling the design of a device similar to a wristwatch that would run on the same platform as the iPhone and would be made with curved glass.
Samsung has recently revealed its Galaxy S4 featuring Full HDSuper AMOLED display and five-inch with 441ppi.
Additionally, the South Korean firm is planning to launch Tizen OS-based smartphones by August 2013, which will be powered by a Linux-based open source platform.