The above is simply an artist's render of a possible Android Smartwatch.
According to a new trademark filed by Samsung, they are indeed working on wearable computing technology, and they already have a name for it. Previously we have heard numerous rumors that Samsung is working on a new Android based smartwatch. Today, a new trademark filing came to light confirming the device with the name "Samsung Galaxy Gear." Here's a quote from the trademark filing for it,
It's possible this is a trademark that Samsung is scooping up to hold for the future. However, with all of the rumors floating around about an impending launch of a smartwatch from Samsung, we suspect this will be the name we see when it finally comes to light. In fact, we may see this device launch as soon as September 4th during the IFA 2013 event in Germany. We will keep an eye out!"Wearable digital electronic devices in the form of a wristwatch, wrist band or bangle capable of providing access to the Internet and for sending and receiving phone calls, electronic mails and messages; wearable electronic handheld devices in the form of a wristwatch, wrist band or bangle for the wireless receipt, storage and/or transmission of data and messages and for keeping track of or managing personal information; smart phones; tablet computers; portable computers."