A smartwatch from Microsoft is coming. The rumors that have been abounding for the past few days and weeks appear to be true, as a Microsoft spokesperson has confirmed the reports that the company is ready to jump full speed into the fast-growing wearable tech sector. And with a smartphone that can run on iPhones, Windows Phones or Android could be a huge market boost for the company after the Windows 8 debacle.

The new smartwatch will be full of sensors and will be able to measure a users' heart rate and can synch with almost every smartphone on the market at the current moment, giving it a one-up on the competition that largely relies on only one operating system.

It comes as Samsung and Apple, with LG entering recently, continue to dominate the wearable tech sector and smartwatches. But Microsoft sees the market as wide open and hopes that its own product can fill a void that needs to be established.

According to the exclusive report, the new smartwatch has been developed using Microsoft's Xbox Kinext division and the battery can last up to two full days without charging. Samsung's Gear Fit also has a lengthy battery life, which should put the Microsoft product at the top of the market.

Although Microsoft has yet to unveil a target date for the launch of the smartwatch, most expect it to hit the market sometime this summer at the earliest and by fall at the latest.

"We have nothing to share," a spokesperson for Microsoft said, adding curiosity to the rumors over the smartwatch from the company.

It is expected to look and feel similar to Samsung's product and will have a color touch screen that fits nicely on a person's wrist. The goal, reportedly, is to make the device more private for users who have complained about other devices being too public and capturing onlookers from afar.

Microsoft CEO Satya Nadella has previously argued that the company is looking to have a multi-platform smartwatch that aims to create a "product that works across other rival platforms, not just Windows."

Microsoft's software and services need to be available on "all devices," Nadella also said at a conference earlier this week. "It's time for us to build the next big thing."

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