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Samsung to Announce New 'Phablet,' Says Not Interested in BlackBerry

Stocks in this article: BBRY GOOG SNE AAPL

NEW YORK ( TheStreet) -- A Samsung official confirmed the company will announce a new version of its popular Galaxy Note tablet-phone as well as a new "wearable" device at an event in Europe next week. She also ruled out the possibility of a Samsung takeover of struggling rival BlackBerry (BBRY - Get Report).

According to an interview in the the Korea Times, Samsung Mobile Executive Vice President Lee Young-hee said her company will release the Galaxy Note III and a new "smartwatch" product named Galaxy Gear in Berlin next week. The announcement will come two days before the official start of the IFA electronics industry show.

Both devices are expected to run on the latest version of Google's (GOOG) Android operating system.

While offering few exact details about either product she proclaimed the Galaxy Gear will be a "wearable concept device" designed to "enrich the current smart mobile experience in many ways." She said the Gear would not have a flexible display but hinted that more advanced future devices were currently in the works.

Smartwatches are expected to be the next big trend in portable computing. Sony (SNE - Get Report) has its second-generation Smartwatch 2 and Apple (AAPL - Get Report) is said to be working on an 'iWatch" device which could be announced alongside the next series of iPhones as early as Sept. 10.

In recent days, photos of what is believed to be the upcoming Galaxy Note III smartphone/tablet have made their way onto a number of blogs. It's difficult to tell much from the photos. The next Samsung "phablet" is rumored to be thinner and could have a touchscreen approaching 6-inches. There is also word it will be the first such device capable of displaying super-high resolution "4K" video.

When questioned about the possibility of a takeover, the Samsung official denied her company has any interest in buying BlackBerry. She told the newspaper "Samsung Electronics is not considering that opportunity" and refused to elaborate further.

BlackBerry shares were down 2.1% at $10.20 in trading Tuesday.

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Gary Krakow is TheStreet's senior technology correspondent.

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