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TheStreet Open House

Samsung Is Such a Poser

NEW YORK ( TheStreet) -- Apple (AAPL) recently unveiled two new iPhones, the 5S and 5C, but many were hoping for more products, such as an iWatch, to prove the company could still innovate.

Just a few weeks ago, Samsung unveiled its own smartwatch, the Samsung Galaxy Gear. Boy, is it terrible.

I truly hope that it's not what the iWatch ends up like -- assuming Apple is even going to make one.

Supposedly, Samsung's wearable device will run for $299, a rather lofty price tag for a product that in my view stinks. As if it weren't gaudy enough, the functionality appears to be quite limited, especially since it works only with the Samsung Galaxy S4, not any of Samsung's other smartphones.

The appearance, coupled with the poor functionality, gives me the impression that Samsung's sole intention was to beat Apple to market.

It becomes even more evident -- and hilarious -- in the following quote from Gregory Lee, president of Samsung Communications America:

"Galaxy Gear combines convenience and technology, and is the first of its kind. This is proof and reflection that Samsung is truly, relentlessly innovative in bringing first-to-market products."

So did Samsung just pull one of the late-Steve Jobs' famous, "Oh yeah, one last thing," moments, by stunning the world with a product people have never dreamed of before? Come on. Of course not.

Qualcomm (QCOM) showed off a very similar product the same day.

Samsung has a long history of copying the best: Apple.

In this case, however, it didn't wait to see what Apple would do and copy it. In this case, Samsung was trying to be first, but having the right product is better than being first.

Now Samsung is back to its copying ways, having the audacity to release a limited edition gold smartphone.

Please tell me this is some sort of joke. Samsung cannot be serious. Soon we'll probably be seeing Samsung retail stores and its version of iTV, iTunes and basically everything else that Apple has done.

But don't deny it. Don't lie. And don't say things like "truly and relentlessly innovative." Just admit the blatant copying and lower-priced products for the lower, nonpremium marketplace. Spare us, and dream up something on your own.

And even when you try to be first, it sure does seem like a lot of other companies have similar, (read: the same), products in or coming to the market.

Just saying.

At the time of publication, the author owned shares of AAPL.

-- Written by Bret Kenwell in Petoskey, Mich.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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