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Samsung Preparing Wristwatch as It Races Apple for Sales

Samsung Electronics Co. is developing a wristwatch as Asia’s biggest technology company races against Apple Inc. to create a new industry of wearable devices that perform similar tasks as smartphones.

“We’ve been preparing the watch product for so long,” Lee Young Hee, executive vice president of Samsung’s mobile business, said during an interview in Seoul. “We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them.”