"We are working very hard to get ready for it," he said.
"We are preparing products for the future, and the watch is definitely one of them.”
The news all but confirms the leaked pictures we earlier reported, which included features such as a clock, music player, maps and email capability, as fact.
It also follows last week's announcement of new flagship handset Galaxy S4, meaning Samsung's been extremely hard at work behind the scenes.
The product’s known as the "Galaxy Altius", which may or may not be a codename, and doesn’t seem to be running Android, instead opting for a proprietary operating system.
Samsung hasn’t said anything official about what users can expect from the end product but according to "a source with direct knowledge", it will be able to perform many of the same tasks as a smartphone.
Judging by the leaked screenshots, speaking into your watch to send a text may not be such a ludicrous proposition after all.
The announcement follows Google’s Shoes and Glasses, in a whole new category of products that are indeed proving we’re very much living in the future.