With the technology of wearable devices being the latest trend, tech giant Microsoft prepares to join the competition over smart watches, and Samsung, Pebble and Sony are already present in the small, burgeoning market. Many other manufacturers are already developing smart watches to join in the next stage of technology development, which includes speculations of the much-awaited Apple iWatch. However, Microsoft's may come sooner as reports by Forbes cited people familiar with the company's project saying that the device may launch this summer.

What is special about this watch is that, unlike Samsung, it will be able to connect and sync with gadgets running on Android, iOS and Windows, thereby delimiting the watch's compatibility with its own products. Speculated features include sensors and optical components derived from the design of Microsoft's Xbox Kinect. This special hardware will be able to constantly measure the heart rate of the user at all times. Sources also indicated that the watch's appearance will look similar to Samsung's Galaxy Gear Fit, sporting a touchscreen display positioned on the inside of the wrist allowing the user easier viewing with additional privacy.

Rumors of this wearable device date back to last year when the company was reported to have tested 1.5-inch displays allegedly to be used for the device. Furthermore, there were a number of divisions said to be working on it, including the Surface tablet team and the team working on Xbox accessories. Another rumor suggested that the material of the product would be a translucent aluminum. Also, the company had actually attempted to launch a similar product previously with the SPOT platform, or Smart Personal Object Technology. However, this project died back in 2008.

While this is all based on speculations and insider reports, nothing has been confirmed by Microsoft. But the wait shouldn't be too long if the reports are correct, and the product is expected to be launched by summer.