Samsung unveils plans for Galaxy Gear 'smartwatch'

(NBC) - Some of the same companies battling to put smartphones in your hand will soon be fighting it out for a place on your wrist.

On Wednesday, tech giant Samsung unveiled plans for its version of a 'smartwatch.'

It's not the first smart watch but the "Galaxy Gear" unveiled today in Berlin aims to be the one that changes the game.

The company touts the device as a companion to its Galaxy smartphones.  

It has a 1.63 inch screen and enables hands-free calls, instant messaging and Internet access, along with a 1.9 megapixel camera built into the wrist strap.

"We have opened a new chapter, a new direction to an exciting world of possibilities," said Samsung co-CEO JK Shin.

Venture beat writer Christina Farr tested the device last week. 

"The first thing that I noticed was, I couldn't get it on to my wrist, because it was just a little bit too clunky.  As you can see, I have pretty small wrists," Farr said.

Time Magazine Editor at Large Harry McCracken says Samsung has to sell the concept to consumer in order for the "Galaxy Gear" to succeed.

"Sony is just releasing its second generation one, but none of them has been the device where tens of millions of consumers say 'A-ha, I understand why I want this," McCracken said.

Samsung's betting that with a $299 price tag its variation of smartwatch will become the here and now's newest must-have device.