Samsung Galaxy Gear smartwatch, Galaxy Note III coming Sept. 4

In this photo taken on April 25, 2013, a man walks by a logo of Samsung Electronics Co.'s latest smartphone Galaxy S4 during its unveiling ceremony in Seoul, South Korea. Samsung Electronics Co. has applied for U.S. and South Korean trademarks for a watch that connects to the Internet in the latest sign that consumer technology companies see wearable devices as the future of their business.
AP Photo/Lee Jin-man

Update: Samsung announced the Galaxy Gear smartwatch on Sept. 4.

Samsung's much hyped "smartwatch" may be unveiled next week, along with the Galaxy Note III.

According to an interview in the Korea Times, Samsung's executive vice president of mobile Lee Young-hee said the company will announce a "wearable concept device" called Galaxy Gear at the Internationale Funkausstellung (IFA) trade show in Berlin. Lee also confirmed that the popular tablet-phone hybrid, the Galaxy Note III, will also make its debut.

Lee says the Galaxy Gear will have a non-flexible display that will "enhance and enrich the current smart mobile experience," but didn't not reveal any additional details. Rumors suggest that the watch will likely have features that are available on a smartphone, such as emails, social media and text messaging.

There is also the question of whether or not the concept device will make it to the market, or if it will remain a design concept.

"We have intellectual properties for patents related to the next wearable devices. Those are concepts for future products," Lee told the Times.

Smartwatches have been hyped as the next big consumer electronics device. The market includes watches like the Kickstarter-funded Pebble watch, rumored Apple smartwatch and Sony SmartWatch.

Lee also confirmed that the Galaxy Note III will be announced. The phone-tablet hybrid, which is nicknamed a "phablet," is rumored to have about a 5.7-inch screen with 1080p display resolution, 13-mega pixel camera, Android 4.3 and its signature S Pen stylus.

The Note II went on sale on Nov. 9 last year and cost about $300 with a 2-year contract. Samsung said it took about a month for sales to pass 3 million units. There are currently no details on how much the Note III will cost.