Samsung is ready to take on the Apple Watch as it develops its newest wearable device.

Rumors are circulating that the South Korean firm is hard at work on a Tizen-based smartwatch supposedly called "Gear A." Last month, after teasing developers with an image of its upcoming round wearable technology, developers who applied for early access to the software development kit (SDK) can now download the Tizen SDK, SamMobile reported.

The site notes that Early Access SKD enables developers to build "richer and differentiated apps for the next generation Gear device." Samsung is reportedly providing developers with a comprehensive guide on how to use the Tizen User Interface.

Unlike earlier Samsung devices, Gear A will sport a round display and come with a new UI interaction mechanism, which will directly rival the Apple Watch's Digital Crown functionality. The rotating bezel for the wearable smartwatch allows it to be used for page navigation, moving between screens, zooming, as volume controls and much more.

If these features sound like the Apple Watch's Digital Crown, it's because it is a very similar feature.

SamMobile reported that the newest Gear was expected to be launched alongside the Samsung Galaxy S6, but was delayed as the firm wanted more time to develop the wearable to better compete with the Apple Watch.

"Gear A" Smartwatch Features and Specs

According to Techno Buffalo, the next-gen smartwatch is expected to come with a 360 x 360-pixel display (305ppi resolution). In terms of connectivity, the watch will have Wi-Fi, Bluetooth cellular data and caller support. As a fitness tracking device, the Gear A is expected to be outfitted with a number of sensors that can measure one's heart rate, pressure and much more.

Reports also indicated the watch - internally codenamed as "Orbis" - will have a super AMOLED screen and Exynos processor,

Currently, there is no official word on when the Samsung Gear A will launch, but it's believed that more information about the smartwatch will be revealed during the 2015 IFA in September.

With this timeline, we could see the Gear A device launch with the anticipated Samsung Galaxy Note 5, expected to be released this year.

Which smartwatch do you prefer? Let us know in the comment box below.