The Financial Times says Google is working on a smart watch. To be more specific, Google’s Android division is in charge of the watch’s development. They don’t say when it’s going to come out, how much it’s going to cost, or what it’s going to look like, but they do confirm that the project exists.

Should you believe them? Absolutely.

Here are a few questions that immediately popped into my mind upon reading the news: Will this watch run Android? Is Google partnering with a well known watch brand or are they going at it alone? Will Google create a “smart watch platform” that will enable anyone and everyone to make their own watch? Will this watch work with iOS, Windows Phone, etc.?

If you’re wondering why Google is even bothering entering the watch space, then you’ve probably haven’t been keeping up with the news. Earlier this month, The Verge reported that Apple is going to come out with a watch this year. And earlier this week, Samsung told Bloomberg that the company has “been preparing the watch product for so long.”

Why watches? I’m eager to see how Apple’s marketing department will pitch the whole wearable computing concept. Likewise for Samsung and Google. The only real useful thing I see a watch enabling is glanceable information. Do other use cases exist? Probably, and I’m eager to see what companies come up with. If you have the time, I suggest you check out the five and a half video above. It’s a review of the much talked about Pebble smart watch.