While Apple may or may not be close to unveiling their iWatch, Samsung has lifted the curtain on their latest smart watch, the Galaxy Gear S.

According to CNET, Samsung revealed their new wearable device Thursday. The new device will operate on the Tizen mobile operating system, Samsung's alternative to Android, but will be able to connect to other devices via Bluetooth and Wi-Fi.

The Galaxy Gear S has a curved 2-inch Super AMOLED screen, a 1GHz dual-core processor, a barometer, GPS, pulse reader, compass and a UV monitor.

"The Samsung Gear S redefines the idea of the smart wearable and the culture of mobile communication," Samsung mobile chief JK Shin said in a statement. "It will let consumers live a truly connected life anywhere, anytime."

While Samsung may have unveiled their latest smart watch first, it is expected to hit the market around the time Apple is supposedly going to release its first, in Oct.

Re/Code learned Wednesday that Apple is planning to unveil the iWatch alongside the iPhone 6 at a press event Sept. 9. While the iPhone is expected out before the end of the month, the iWatch may take a few weeks more.

Now that Apple and Samsung are no longer the only two big players in the smartphone and tablet markets, it seems as though a shift is taking place. Both companies are trying to move in more innovative directions and the smart watch is one of those relatively untapped areas.

"Samsung are deliberately trying to do something different," Ben Wood, an analyst at CCS Insight, told BBC News. "We're in an era of experimentation - no-one really knows what the killer design for a smart watch is.

"Samsung's playing their strengths because they have curved screen technology in their portfolio."

Apple may be taking their time with the iWatch, but they have reportedly been pulling out all the stops, bringing in designers such as Yves Saint Laurent CEO Paul Deneve. But Wood said the watch's fashion matters a great deal because no matter what it can do electronically, it has to look good on a user's wrist.

"They've got to look nice to be attractive to the mass market," he said. "A clunky piece of gadget bling is not really what the whole world wants.

"Watches are first and foremost a fashion statement, it says something about you as a person."