Bangalore: Tech giants Apple, Samsung and Google were reportedly working on a Smart Watch which enables High technology on wrist. According to the latest reports, Microsoft, The creator of Windows too is joining the club.

There were rumors that Apple would create an iWatch that would perform tasks similar to a Smartphone, which would revolutionize the wrist watch industry.

Samsung and Google on the other hand would use their marketing strategies and look to incorporate Andriod features which would potentially give a cut-throat competition to Apple’s iWatch.

According to WS, Earlier this year, Microsoft asked suppliers in Asia to ship components for a potential watch-style device. For its new watch prototype, Microsoft has requested 1.5-inch displays from component makers, said an executive at a component supplier.

When it comes to watches Microsoft had previously faced a bad experience when it built a timepiece using Microsoft's Smart Personal Object Technology. The sales of this device eventually stopped on 2008.

It is unclear if Microsoft would opt to move ahead with the creation of watch; The Company had declined to comment on this.

Wearable electronics is slowly becoming a trend and could be most demanded in future, the next best thing in tech would be a high tech timepiece. If the rumors are true, we could soon see the tech biggies in a race to compete for the best Smart Watch in market.

"We see growing demand for wearable gadgets as the size of the Smartphone has become too big to carry around," said RBS analyst Wanli Wang. "A smart watch that is compatible with a Smartphone and other electronics devices would be attractive to consumers."

Gartner expects the market for wearable smart electronics to be a $10 billion industry by 2016.