Smartwatch the next tech must-have?

(CBS News) You're probably hooked on your smartphone, but could you get hooked on the smartwatch?

It's another device that Apple, Google and Microsoft are all rumored to be creating. And Samsung is expected to reveal its version later this week.

Watches the tell more than time have been on the market for years, but they have not been distributed by the big players in technology. Scott Stein, senior editor at CNET, explained on "CBS This Morning," that the devices on the market these days can track aspects of your health or perhaps can receive text messages, but often do not do both.

Why it's time to get excited about IFA 2013

Stein said: "The talk is that Samsung's watch is also going to have a lot of health-tracking capabilities. That's kind of useful because what do you use these for? I mean, really, other than monitoring what's already on your phone. I think a lot of people are already into the idea of keeping an eye on their health a little bit more and how they're walking, but they may not be power using it."

In a landscape where Stein said everyone is "piling on as opposed to being completely new," Samsung is trying to get into the market before Apple and Google.

"It's maybe like smartphones were before," Stein said. "Things like the iPhone came out where you did have a lot of other people replicating. So the answer is maybe not that much (is new). Or maybe it's the combination because something like the Jawbone (health monitoring device) or the Nike Fuelband aren't necessarily as great at being connected to your phone."

Other features also being discussed for the smartwatch is the hope of a live camera capability.

"This is supposed to have a camera so you never know," Stein said. "Some of the early talk was maybe that this is for taking photos of your food, but I've got to think if it's a camera, it's got to be for more than that. That would be fun."

For more discussion on the smartwatch and integrating mobile devices into life, watch Stein's full "CTM" appearance above.