Samsung Electronics will release Gear S3 smartwatch at the upcoming IFA event in Berlin, Germany, in Sept. while Apple will reportedly launch "Apple Watch 2" later. The Gear S3 will be powered by the company's own Tizen OS 3.0. The new smartwatch will reportedly maintain the the design of the previous model, but will pack a built-in global positioning system (GPS).

Samsung's compatitors are also preparing for the release of their new products. Apple will reportedly launch its smartwatch "Apple Watch 2" after September. The Watch 2 is expected to feature a larger battery to improve battery life and the GPS system just like the Gear S3. China’s Xiaomi also announced its plan to launch the VR HMD.