Samsung is serious about wearable devices. That’s why it has announced the Simband platform that will be used to create new wearable devices. Keep in mind that this is not a product but a reference design to build wearable devices in accordance to. Manufacturers can use it to develop their own wearable devices. SAMI will be an open source platform.
Here is what Samsung had to say about it:
Samsung Simband is not a product. It’s a reference design. It’s our concept of what a smart health device should be. Devices based on the Simband platform will be able to gather vital diagnostic information … Samsung Architecture Multimodal Interactions (SAMI) will be a data broker that will enable wearable devices like those based on Simband to upload information to the cloud. From there, developers can access the data and leverage it to create entirely new applications. SAMI will be the first truly secure, open, diverse data platform of its kind.
This will surely not be the only platform of its kind. You can find out more about it from Samsung.