New Delhi, Sep 7 (IANS): Samsung India's smartphone arm on Monday said that it garnered over 45 percent market share of smartphones in the price band of over Rs.40,000.

"According to data released by market research firm GfK till July 2015, Samsung has over 45 percent market share of smartphones in India in the price band of Rs.40,000 and above," Samsung India vice president, IT and mobile, Asim Warsi told IANS at the sidelines of the South Korean electronics company's launched of its next phablet - the Galaxy Note 5phone.

Asked about new strategies regarding other products like wearables and operating system, he said: "We will soon make a big announcement regarding wearables, mostly concentrated around the new developments on the Samsung Gear S2."

The Gear S2 was launched at a pre-IFA event in Berlin.

Reports also indicate that the Gear S2 would be the first Tizen-based wearable from Samsung and the company is looking to make it iPhone compatible too. Tizen is an operating system developed by Samsung to run on its smart and connected devices.

Interestingly, Cuppertino-based Apple is scheduled to make a new announcement regarding its wearable device - the iWatch - on September 9.

Warsi, in response to a question on Indian strategy, said that the company was looking to build a flagship phone on its propritary operating system Tizen but added that no timeline can be given at this point of time.