What's the Takeaway on Samsung's Smartwatch?

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Sept. 5 (Bloomberg) -- Jon Erlichman reports on Samsung's new Galaxy Gear smartwatch. He speaks with Betty Liu on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Here is an opportunity for a company to be out in front of what is seen as one of the next big areas of consumer technology.

Google is defined by its google glass and samsung arguably could be defined by the smart watch.

We are not exactly the yet as one of the key things they said is this device will work that if you buy their latest tablet.

If you don't buy the tablet, the note 3, it is just watch you can take photos with.

This is an opportunity opportunity for them to say they are in this market and we've got the largest penetration of smart phone sales around the world and we can get these things out quickly and hopefully have an edge on the competitors should.

On.

is apple the one that will be the game changer in smart watches?

The focus is immediately shifting to apple because next week, the company will hold its own events which is expected to be mostly focused on phones, the latest version of the iphone and possibly two versions of the iphone -- a new higher end and a lower and the smartphone.

From that perspective, you are seeing apple take a page out of the samsung book -- the idea that apple only offers the highest price product possibly coming out with a lower-priced product to compete in the emerging markets where samsung has a lot of significant strength.

Until apple decides to make that next big move, many people will point to what companies like samsung and google are doing.

The decision by samsung to only make this watch as successful as it can be when paired with an existing one product gives apple some breathing room.

Was it a good event?

It was a complicated event because they unveiled this in berlin and they wanted to make sure the north american market was addressed by having an event in times square.

This is a company that knows to get people's attention, you have to steal lines from steve jobs as we saw in the presentation yesterday.

It is a different feel than the samsung event.

For their galaxy phones.

Thank you.

We are getting breaking economic news -- the jobless claims numbers are coming in a little bit below estimates.

Here is some good news for the jobs market.

323,000 claims for the week ending august 31 and estimates have been about 330,000. we had nonfarm productivity at 2.3% which is above estimates.

This text has been automatically generated. It may not be 100% accurate.

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