Within weeks, Microsoft is joining the wearables bandwagon and is going to unwrap their own version of smartwatch, Forbes reported.

According to Forbes' Parmy Olson, "The gadget is a smart watch that will passively track a wearer's heart rate and work across different mobile platforms. It will also boast a battery life of more than two days of regular use, sources close to the project say."

"The wearable will hit stores soon after launch in a bid to capture the lucrative holiday season, a timeline Apple was reportedly targeting before it delayed its own Watch to early 2015."

Microsoft Smartwatch rumors first came out in May from the same news organization.

"The device will draw on optical engineering expertise from Microsoft's Xbox Kinect division to continuously measure heart rate through the day and night, according to multiple sources with knowledge of the company's plans, while the battery will last for two days, roughly on par with Samsung's Gear Fit," Forbes' May article said.

If this information is accurate, this is going to be Microsoft's first venture into a new device category under CEO Satya Nadella's leadership.

Furthermore, the company's drive to make offerings available all across devices is congruent with this idea.

In this case, Microsoft can potentially tap more customers versus Apple, which exclusively works for iOS.

Nadella's organization is also positioning itself in a good state within the mobile realm, especially with the Mojang acquisition, bringing Minecraft: Pocket Edition.

While the wearables industry is an uncultivated zone, the market is forecasted to be at $7.1 billion worth by 2015.