Samsung Electronics Co., Ltd. (KRX:005930) has launched a prototype of a health-monitoring wristband that is connected to a cloud-based service, which would let consumers share stats with developers of mobile fitness apps. The device is called the Simband, which can measure heart rate and blood pressure.
?This is the beginning of our journey, the beginning of our platform,? stated Young Sohn, president and chief strategy officer of Device Solutions at Samsung. ?What we need is a community of developers and disruptive technology players to work with us.?
The global sales of smart watches, glasses, and medical devices were around $10 billion last year and is expected to triple by 2018, according to IHS.
Samsung said it would create a $50 million fund to support third-party development for the device.
Samsung has launched a cloud data service called Samsung Architecture for Multimodal Interactions, which would be a repository for information that consumers could share with mobile app developers.
Samsung did not reveal how much the Simband would cost or when it will be made available to manufacturers. The prototype features an ARM dual-core processor, WiFi, and Bluetooth. The timeframe is not known.