Samsung Electronics seeks to tap the fast-growing market of health-focused wearable products with its new processor, which the tech giant has already started selling according to a Reuters report.

The South Korean company claims that the new chip is the first in the world to take multiple measurements, which include body fat, skin temperature and heart rate. It can also process the information it collected.

Samsung has also developed "reference platform" products, such as a wrist band to show the chip's capabilities, to help clients speed up product development using the chip.

The move by Samsung came at a time when tech companies are focusing on developing and selling wearable products, such as smart watches and fitness bands among others, that provide different health-related functions like data collection and monitoring.

According to Soreon Research, the wearables market could be worth more than $41 billion in 2020, which is why some companies are planning to get a piece of the billion-dollar pie by offering high-tech products with sophisticated capabilities such as detection and monitoring of serious diseases.

Samsung said the new chip will be used in a device that will be launched in the first half of 2016, but it did not give further details about the maker of the device. The Korean tech giant started mass production of the processor in December.

By: DocMemory
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