The Wall Street Journal reports Microsoft is testing an electronic eyewear prototype that sounds a lot like Google Glass. "Microsoft may have missed the first boat on smartphones but it refuses to be left behind in the race to launch wearable devices."

 Speculation aside, the report didn't have any details about the actual product, but last year a leaked document showed the company was working on something they called Kinect Glasses, augmented reality headgear designed for use in gaming that seemed similar to Google's device. (Via The Verge)

Industry research companies like Gartner predict wearable technology will be a $5 billion industry by 2016.

And while Samsung and Google are the first major players out of the gate with the Galaxy Gear smartwatch and Google Glass, lots of companies are rumored to be testing their own wearable tech.

That’s because, while competition has driven down prices in the smartphone market, wearable devices would be more up-market — and therefore profitable — at least at first.

The new rumor also comes with its own grain of salt, though, warning that Microsoft is just testing the prototype, and has no concrete plans to bring the device to market. (Via The Wall Street Journal)

The company says it has no comment on the rumors.

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