This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Samsung Seeking Growth in the Booming Tech 'Wearables' Market

Stocks in this article: SSNLF AAPL UA NKE GOOG LGEAF LNVGY

NEW YORK (TheStreet) -- Samsung (SSNLF) -- the South Korean electronics giant that makes Galaxy, one of the world's most popular smartphones -- is looking to solidify its foothold in the market of wearable devices by teaming up with apparel and accessories maker Under Armour (UA) .

South Korea's Yonhap news agency has reported that Lee Jay-yong, vice chairman of Samsung's electronics division and the heir apparent to the top job, met with Under Armour founder and CEO Kelvin Plank earlier this month. The meeting could be a response to the long-standing partnership between Samsung's biggest rival, Apple (AAPL), and Under Amour competitor Nike (NKE).

According to research firm IDC, the wearables market is expected to grow almost 80% per year through 2018. Samsung already dominates the smartwatch marketplace and is looking to expand beyond wrist-wearables. 

Microsoft Announces Massive Layoffs, Cutting 18,000 Workers

Google's Future Continues to Depend on Mobile Ads

eBay Sees Deeper Hole in Marketplace Business

Shares of Samsung, which trade in the U.S. on the over-the-counter Bulletin Board, have risen by 7.7% this year, exchanging hands recently at around $1,400. The Nasdaq Composite Index has risen 5.9% so far this year.

The company already has a number of wearable devices under its belt. It launched its smartwatch, called Galaxy Gear last year, followed by Gear 2, Gear 2 Neo and Gear Fit. Last month, Samsung showcased its Gear Live smartwatch at Google's (GOOG)  developer conference.

Samsung has been the biggest player in the smartwatch market, commanding a 71% market share in the first three months of this year, thanks to the sale of 500,000 smartwatches.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,888.10 +83.30 0.47%
S&P 500 2,070.45 -0.20 -0.01%
NASDAQ 4,768.4630 +3.0830 0.06%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs