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By Gilda Galang | February 17, 2013 10:22 PM PST

The top two tiers of the tech industry is currently being dominated by the two big names, Apple and Samsung. From phones to tablets, and even phablets, there has been a close competition between the two.

Now this competition has reached the heights of the fabled smartwatch, and it seems like the beginning of the era of wearable technology.

The Apple iWatch

Rumor of the iWatch has already been in the works even before the iPhone 5 craze died down. There have even been countless updates as to the validity of the claims of production as well as the rumored updates on the device.

The latest news to break is Apple's 100 people who are working on the iWatch which can mean that the development stage has progressed further than the drawing board, reports T3.

Pocket-Lint even reported that the iWatch will have Bluetooth, a 1.5-inch OLED RiT display screen, as well as a complementary mechanism for the iPhone.

Mobile & Apps also report that the iWatch is not your ordinary add-on device as it should enable future users to remain connected to the Web via GPS and other connectivity features.

And like the Google Glass, another device making waves as a wearable technology, the iWatch will promote unlimited access to social media and mail updates, potentially changing the meaning of real-time connectivity.

The Samsung Galaxy Altius Smartwatch

Screenshots have been released for Samsung's own smartwatch, and according to CNet, Samsung has a square interface compared to Apple's own curved design.

In addition, the device was said to have been linked to a Project Altius, which was reported to be the Galaxy S4. Speculations have even arisen if this maybe an accessory for the S4 instead.

CNet also reports that the device may feature a Windows Phone interface for music, email, and map features. Slashgear also adds that, based on the available information for the project, it seems that AltiusOS beta 2 will be used for the smartwatch, one that may be a tailor-fit OS for the project or an improved version of the Android.

There is also the rumor of the device having a 235 MB storage space, which strengthens the possibility of it being a complementary device to another Samsung product.

The project seems to be well under way, according to Mobile & Apps, because it has been reported that the Altius may even debut after the Mobile World Congress.

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