Samsung announces the release date of the new and latest wearable watch, the Samsung Galaxy Gear 2. It is said to be running on Tizen OS instead of Android, according to reports coming from USA Today. the Korean tech giant will reveal the smartwatch at the Mobile World Congress this week.

"Samsung is trying to protect its own long-term interest, not fortifying Google's Android camp while building its own camp around Tizen," said VP of digital media at Network Communications, Stuart Richens, to USA Today.

Other trusted reports also said that the Samsung Galaxy Gear 2 will have a lower price than the Android-powered version.

"Samsung Electronics is mulling over the price range of its soon to be announced next-generation watch device as a threat of a cheaper counterpart by Apple looms this year," says an anonymous industry official, according to a report by ZDNet.

There have been many reports that Apple will also launch a smartwatch, called the iWatch, this same year.

Trusted Reviews released reports declaring that the forthcoming Samsung Galaxy Gear 2 will be offered way cheaper than the first generation watch. The second generation version model is expected to be revealed together with the Samsung Galaxy S5 at the Mobile World Congress this week.

Samsung is selling the Samsung Galaxy Gear 2 in a lower price because of the low sales of the Samsung Galaxy Gear due to its $300 plus price.

The same report, naming an authoritative Samsung spokesperson, stated that the association has done errors with first Samsung Galaxy Gear.

"In terms of our addressable market, making the Gear compatible only with Samsung-branded handsets has made it a harder proposition because we have limited ourselves," Kyle Brown, Samsung's head of technical product management for IM claimed in the report.

"To make a really compelling companion device at the price point that it's at we had to have these limits," Mr Brown added.

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