“Samsung Electronics Co is developing a wearable digital device similar to a wristwatch, a source with direct knowledge of the matter said, joining rival Apple Inc,” Reuters reports.

“The Samsung device will perform many of the tasks of a smartphone, the source said on Tuesday, without giving further details,” Reuters reports. “Last month, the New York Times reported that Apple was experimenting with the design of a device similar to a wristwatch that would operate on the same platform as the iPhone and would be made with curved glass.”

Reuters reports, “Samsung shares dropped nearly 5 percent, or around $10 billion, in just two trading sessions after it launched its latest Galaxy S smartphone late on Thursday, partly hit by concerns that its flagship product lacks the ‘wow factor’ and may not live up to expectations.”

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MacDailyNews Take: Leeches.

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