Market Overview

Rumor: Under Armour To Strike Samsung Partnership For Wearable Devices

Related UA
These Brands Just Went All-Out On Black Friday Promotions
Early Global News: Alibaba Startup Stake, Commercial Drones & Under Armour-Lululemon Rumor
Top Facebook, Goldman Sachs Execs Lead Insider Deals (Investor's Business Daily)

Sportswear maker Under Armour (NYSE: UA) may strike a partnership with Samsung Electronics (OTC: SSNLF) to develop wearable electronics, according to a report Wednesday in Korea's Yohap News Agency.

The report, citing "market sources," noted a meeting last month at which Samsung Vice Chairman Jay Y. Lee and Under Armour's Kevin A. Plank are believed to have discussed how to compete with a potential wearables collaboration between Apple (NASDAQ: AAPL) and Nike (NYSE: NKE) .

It was announced June 23 that Under Armour's MapMyFitness unit will offer content to a Samsung health and fitness smartphone to be offered exclusively by Sprint.

Samsung launched a line of smartwatches last year and Nike offers a device for running shoes called iPod Sport Kit that measures and records distance, pace and other running metrics.

Under Armour opened briefly higher Wednesday, but recently traded down 0.82 percent at $57.89.

Posted-In: SamsungNews Rumors Tech


Related Articles (AAPL + NKE)

View Comments and Join the Discussion!

Get Benzinga's Newsletters