According to news publication Bloomberg’s March 19-dated report, Lee Young Hee - Executive VP of mobile business at Samsung – has confirmed the rumors about Samsung developing on a smartwatch; and has said that the company has been working on the device "for so long."

Lee’s confirmation about Samsung preparing a smartwatch came during the course of an interview with Bloomberg in Seoul. The smartwatch which is being developed by Samsung will challenge the smartwatches which are reportedly being prepared by some other companies, including Apple, Nike, Sony, Motorola, Pebble, WIMM, and I'M Watch.

The Samsung smartwatch-related disclosure by Lee lends credibility to leaked images which were posted on a South Korean message board in February. The leaked images showed off some of the supposed features of the Samsung smartwatch – which was referred to as ‘Galaxy Altius’ in the images – including a clock, music player, maps and email capability.

Though the leaked images hinted that the Samsung smartwatch will probably run the Google Android OS, Lee refrained from confirming so; and also did not divulge any information about the likely launch-date and price-point of the device.

Merely stating that Samsung was “working very hard to get ready for it (smartwatch), Lee told Bloomberg: “We are preparing products for the future, and the watch is definitely one of them.”