Microsoft is reportedly working on a new smartwatch, which will support all three major mobile platforms and feature an always-on heart rate monitor. The watch is set for a summer debut.

Microsoft, the biggest software company, is jumping right in to the growing wearable tech race with its own entry later this year. The software giant has reportedly been working on its own version of smartwatch for more than a year now. According to the Forbes, Microsoft's smartwatch will work with Windows Phones, iPhones and Android smartphones and will continuously measure wearer's heart rate and sync data to paired devices.

With a new smartwatch, Microsoft will be joining the compact market of wearables where big players like Samsung and Google have already marked their boundaries. But Microsoft's rumored watch is seen as a disruptive move to intensify the competitive market. The smartwatch category is currently ruled by the small tech company Pebble, which has won several customers with its attractive design and reasonable pricing. But as the smartwatch market is developing, innovation is what the consumers are looking for.

Microsoft might be late to the party but reports suggest that its smartwatch, which is yet to have a name, will stand out in the crowd. Its two most important features, cross-platform support and continuous heart-rate monitor, will be a win-over against its rival Samsung. In Gear Fit, a wearer must turn on the heart rate monitor for it to scan and sync data to Galaxy smartphones. Whereas the Microsoft smartwatch will "continuously measure heart rate through the day and night."

The report further adds that Microsoft's Xbox Kinect team will assist with the smartwatch's optical engineering.

"Designers and data scientists have created a software platform to go with the smartwatch that will correlate data from the device's sensors, according to sources, giving a more accurate read on heart rate and fitness," Forbes' Parmy Olson wrote.

While a specific time frame for the smartwatch's release is unknown, the report points toward a possible summer release.