Rumors of the Microsoft smartwatch have been circling the tech industry for quite some time. Latest report suggests that the speculated Microsoft smartwatch will be more of a fitness tracker.

Microsoft dived into the portable device market with the launch of Surface RT and Surface Pro tablets in June 2012. Now reports suggest that the company may also launch a smartwatch to grab a chunk of the wearable market.

Paul Thurrott, a technology blogger, who runs the website SuperSite for Windows that focuses on Microsoft products such as Windows Phone 8, Surface tablets and more, says that Microsoft may launch and release its first wearable in the final quarter of this year.

Thurrott cites his sources and suggests that the Microsoft wearable with will be similar to the Samsung Gear Fit. The upcoming Microsoft wearable will be a fitness band that displays smart phone notifications, tracks fitness of its user and displays the time. Referring to the Microsoft wearable, Thurrot claims "it's a wristband, not a watch."

"Using multiple sensors, it will track your fitness-steps, calories burned, heart rate, and the like-throughout the day and interoperate with apps on mobile phones. Microsoft makes some great apps, already-hint, hint-including Bing Health & Fitness and Healthvault. It will work with third party apps too, of course," says Paul Thurrott.

The tech blogger points out that Samsung wearables are compatible only with Samsung devices, Android Wear devices can be paired only with Android-powered handsets and the rumored iWatch is expected to be a companion device only for iPhones. However, the rumored Microsoft wearable will stand out from the crowd and will work with Android, iOS and Windows Phone operating systems.

Thurrott says that the Microsoft wearable will be priced similar to the Samsung Gear.

Many OEM's such as Samsung, LG, Sony and more have already introduced their smartwatches. Rumors are also rife that Apple may launch its smartwatch dubbed iWatch along with the rumored iPhone 6 this fall.

Bigwigs have already entered the wearable market, which means that Microsoft will have to face stiff competition from rivals. However, the expected ability of Microsoft's wearable to work with devices of multiple platforms may give it an edge over its rivals.

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