Microsoft could unveil smartwatch soon

Microsoft is getting ready to unveil a wearable device in the upcoming weeks, according to a report by Forbes.

The device is reportedly a smartwatch with health-tracking capabilities that include a heart tracker. It will work across different mobile platforms such as Apple's iOS and Google's Android operating systems, said Forbes, citing unnamed sources close to the project. It is also expected to have a battery lasting more than two days with regular use. The wearable is supposed to hit the market before the end of this year.

Citing "sources familiar with Microsoft's plans," The Verge reported that "the launch of Microsoft's wearable fitness band is imminent, and the device will be stocked at retailers in time for the holiday season."

It is not clear what the device will be called or what the retail price may be.

The first rumors about a Microsoft smartwatch efforts surfaced in April 2013, when the company was reportedly shopping around for suppliers in Asia for components to build a touch-enabled watch device, according to CNET. Other reports earlier his year said that the device would look like Samsung's Gear Fit with a full-color touch screen that you could view on the inside of your wrist.

The wearable is expected to be unveiled not long after Apple showed off its long-anticipated Apple Watch last month, which also features health tracking technology. The Apple Watch will not be available for sale until early 2015.

According to an industry forecast by Business Insider, the smartwatch market is poised for huge growth, with 91.6 million devices expected to be sold globally in 2018.