It seems Samsung has filed a patent in May last year, for what looks like a yet another smartwatch. This time the wearable has a rounded display similar to the Moto 360. However what's interesting is that Samsung has added a rotating bezel, which takes on the duties of the digital crown.
According to the reference image below, it looks like the watch interface has been broken into three separate blocks. The bezel allows you to scroll through apps, lists, and menus without having to touch the display and obscure it with your finger. Given the state of menus and applications on Android Wear, and the unlikeliness of the platform supporting an interface with the rotating bezel, this smartwatch will likely be powered by Tizen. Its important to note, that this is based on speculation, so we will never know for sure, until the watch is eventually released.
In terms of functionality, Samsung may have added a camera to recognize images, objects, and barcodes, which could prove handy in its Samsung Pay pursuits. If the circular watch is to be a flagship model, it will have to be tightly integrated with the payment service that Samsung is raising to battle Apple Pay, which is taking a significant role in the Apple Watch.
While this device will likely see some changes before its final release, Samsung will clearly want a product in the market that can challenge the Apple Watch, and this smartwatch (codenamed Orbis) has all the potential of being something great. The eventual announcement could happen this fall, possibly around the annual IFA conference in Berlin (4-9 September 2015).
source - UberGizmo