Report: Facebook to Debut First Smartwatch Next Summer

Starting in 2022, you'll be able to wear Facebook (NASDAQ: FB) on your wrist, literally.

According to a report published Wednesday on the tech news website The Verge, the social media giant aims to roll out its first smartwatch in the summer of that year. The article said that the device will have one front and one rear camera, the latter of which will be detachable. Such a design would make it unique, and likely garner the product plenty of attention on that basis alone.

Two "people familiar with the project" cited in the report said that Facebook is trying to use third parties to make accessories on which the detachable camera can be attached, such as backpacks.

Young couple, both of whom are admiring a smartphone on the woman's wrist.

Image source: Getty Images.

The device will also have fitness features, such as a heart rate monitor, that are common to other smart products on the market. It should also connect through LTE technology.

Little was written about its appearance. The Verge's sources said it will come in black, white, and gold.

Speculation about Facebook's smartwatch began to circulate earlier this year. According to several media reports, the device will initially run on the Android operating system created by Alphabet.

Facebook has not commented on any of the reports about its purported device.

Although known far and wide for its digital presence, Facebook has been involved in the hardware segment for years. For example, in a splashy 2014 deal, it paid $3 billion for virtual reality (VR) specialist Oculus. In 2018, it launched its Portal video communications device.

The smartwatch project will be an interesting development for Facebook investors to keep a bit of an eye on, although this device probably won't be a market disrupter no matter its number of cameras. The smartwatch space is crowded by determined, experienced, and well-capitalized competitors, after all.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Eric Volkman owns shares of Facebook. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has a disclosure policy.

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