• The Gear S2 is Samsung's first ever circular smartwatch

The Gear S2 is Samsung's first ever circular smartwatch (Photo : Facebook)

South Korean tech giant Samsung recently announced that the Samsung Gear S2 will be released on Oct. 2 and will sport a price tag of $299.

The flagship smartwatch from Samsung is also available in a dressed up Classic model which will cost $349. The $299 price tag is for the sporty standard model. The smartwatch, once released, will be available at Samsung retail stores, Macy's, Best Buy and Amazon.

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Unlike the Apple Watch, the Gear S2 sports a round face which makes it look more like a traditional watch. On the other hand, the smartwatch sports circular icons just like the ones in the Apple Watch.

The Samsung Gear S2 runs on Samsung's own Tizen operating system which is a switch from the more common Android Wear operating system. Despite running on Tizen, the smartwatch is still compatible with Android devices running on the Android 4.4 KitKat operating system or later versions and requires a minimum of 1.5GB of internal memory.

Pairing the Samsung Gear S2 with a Samsung smartphone will give users additional functionality. In this instance, users will have the ability to make mobile payments through Samsung Pay which is the company's answer to Apple Pay and Android Pay, according to PC World.

The Samsung Gear S2 has an impressive specs list. According to Android Authority, has a 1.2-inch circular display with 360x360 resolution. On its heart is a dual core 1GHz processor with 512MB of internal memory and 4GB of storage space. The smartwatch has an integrated NFC chip which is used for Samsung Pay transactions.