Samsung is planning to announce an Android Wear smartwatch at this year's Google I/O Conference.
The news was revealed to CNET by people familiar with the matter, and the smartwatch will add to Samsung's existing Gear watch armoury.
The Android Wear-powered smartwatch from Samsung will feature Samsung's own CPUs, with another model built with processors from Qualcomm.
Android Wear, which was announced by Google earlier this year, is an Android-based operating system made exclusively for smartwatches.
The first Android Wear smartwatches announced were LG's G Watch and Motorola's Moto 360.
In April, research firm IDC predicted the global shipments of wearable computing devices is expected to grow three times to 19 million units in 2014, reaching 111.9 million units by the end of 2018.
IDC Mobile Phones research manager, Ramon Llamas, said that complex accessories have succeeded in drawing much-needed interest and attention to a wearables market that has had some difficulty gaining traction.
"The increased buzz has prompted more vendors to announce their intentions to enter this market," Llamas added.
LG is set to launch its G Watch at the conference, set to be held June 25-26 in San Francisco.