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Will Samsung (SSNLF) Stock Gain on New Smartwatches?

by Augusta Watsford (2019-09-18)

Will Samsung (SSNLF) Stock Gain on New Smartwatches?
Samsung (SSNLF) announced its first smartwatch this year that will compete with the Apple (AAPL) Watch.
NEW YORK (TheStreet) -- Samsung (SSNLF) announced on Tuesday that it will launch a new wearable device, the Gear S2 smartwatch, which will compete with the Apple (AAPL - Get Report) Watch.

The Gear S2 will be available in three models that will have a 1.2-inch circular screen and run on Samsung's Tizen operating system.
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The watch will be capable of connecting over WiFi networks, Bluetooth and NFC technology, but will also be the first smartwatch to have 3G capability with an e-SIM card.
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Samsung hasn't launched a new wearable since last year and is entering a competitive field after the Apple Watch shipped 3.6 million units in the second quarter of this year, according to IDC research, The Wall Street Journal reports.

Samsung shipped 600,000 wearable devices in the same period.
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Smart-wearables, however, are gaining traction and the market for them is expected to produce $53 billion in revenue by 2019, compared with $4.5 billion it generated last year, according to Juniper Research, The Journal added.
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Samsung did not disclose pricing for the Gear S2 or timing for its release, but will showcase the smartwatch in Berlin on Thursday.

Samsung stock is flat at $875 in mid-morning trading.
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