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Samsung confirms smartwatch coming, but is it ready for prime time?

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The time has come for Samsung's smartwatch.

According to a report Tuesday by the Korea Times, a Samsung executive confirmed that the rumored device will make its premiere next week at a trade show in Germany.

Lee Young-hee, an executive vice president for Samsung, said the device, which is called the Galaxy Gear, will be unveiled Sept. 4, alongside the Galaxy Note III smartphone/tablet hybrid device.

"The new device will enhance and enrich the current smart mobile experience in many ways," she said, according to the report. "It will lead a new trend in smart mobile communications. We are confident that the Gear will add meaningful momentum to the mobile industry."

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Over the last year, Samsung and many other major tech companies have been rumored to be working on smartwatches as a way to continue growing their mobile business. Smartwatches can connect with smartphones and perform tasks such as displaying incoming text messages.

Although Lee confirmed the device, she also hinted that the Galaxy Gear may not be ready to go on sale after Samsung announces it.

Lee called the gadget a " concept device" and made sure to point out that it will not have a flexible display -- a technology Samsung has said previously that it would be using on future gadgets. Prior to the Tuesday article, many reports said the Galaxy Gear would incorporate the flexible display technology.

Samsung has been known to demonstrate prototype devices at press events and not release them.

Earlier this year, for example, it showed off smartphones with flexible displays at the Consumer Electronics Show. But those devices were meant only to demonstrate the flexible display technology.

Perhaps Samsung is getting ready to do the same with smartwatches.

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