Microsoft Working On iOS, Android-Compatible Smartwatch: Report

NEW YORK (TheStreet) -- Microsoft (MSFT) is reportedly one of the many companies working on bringing mobile technologies to the next hot platform - smartwatches.

According to a report from Forbes, the company is said to be readying a new wrist computer which will be able to communicate with Microsoft Windows Phones as well as other devices, which run on Apple's (APPL) iOS and Google's (GOOG) Android operating systems.

Microsoft could not be immediately reached for comment.

Shares of Microsoft were up 0.19% to $40.42 in early New York trading.

This would not be Microsoft's first attempt at smartwatches. A decade ago, Microsoft teamed with manufacturers such as Fossil (FOSL), Suunto, Tissot and Swatch to create "SPOT," or Smart Personal Object Technology. Those devices utilized the MSN Direct wireless service (and unused portions of local FM radio station broadcast frequencies) to deliver the time, weather, sports scores and simple messages. The $59/year service lasted four years. There were also other devices in the SPOT program, including a coffee maker made by Melitta.

In March 2012, Microsoft was believed to have spent $150 million to purchase patents from San Francisco's Osterhaut Design Group for a wrist device as well as for headsets.

According to the report, one of the main functions of the new smartwatch will be to act as a heart rate monitor like the latest series of wrist devices released by Samsung. The Microsoft model is said to draw heavily upon research already incorporated into the company's Xbox Kinect devices.

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