Samsung hopes to tackle down Apple's and Google's take on wearable devices. Google continually works on Google Glass while Apple looks forward to releasing their iWatch. For Samsung, wearable computers and devices offer a great market potential.

The tech giant announced that it has been investing heavily on wearable gadgets. The company even revealed they are creating systems for stick on patches able to keep track of health.

"Eventually you won't even know you're wearing the device, it could be the fabric in your clothing, your glasses or your watch," Young Sogn told in an interview with Mobilebeat. Sogn is Samsung's Chief Strategy Officer.

"It will monitor your health, connect to the cloud, identify you, pay for things and replace credit cards," he added.

Reports say Samsung is working on a range of wearable watches and computers.

"In three or four years, the number of people wearing computers will increase dramatically," Mr Sogn said.

Samsung believes that in five to seven years from now, wearable technology will be common and highly popular. Previously, the company already dished out on their ongoing work about a watch. The latest trademark filling hints that the device will go by the name "Gear." Once Samsung releases their wearable device, this will go head to head with Google's Glass and the much-rumored Apple iWatch.