Microsoft is planning to launch its first smartwatch in the next few weeks, according to a Forbes report. The wearable device will be pitted against other devices in the market from old players like Motorola, Samsung, LG, Pebble, Apple and others, with health-tracking features like a heart-rate monitor.

If the report is true, Microsoft's smartwatch will work across multiple platforms such as Apple's iOS, Google's Android and its own Windows Phones, unnamed sources familiar with the company's plans revealed. The latest report is in line with earlier speculation that came out as early as April of last year that the company was reportedly tapping suppliers in Asia for components to build a wearable watch device. Since then, reports linked to Microsoft smartwatches have been quite frequent, CNET says.

In May, a patent filing for a smartwatch by Microsoft was released by the U.S. patent office showing various details about the rumored device. Another report in May also confirmed the multiple-platform-integration and an always-on heart rate monitor in Microsoft's unnamed smartwatch. But a recent report in July said Microsoft's first wearable will rather be a fitness tracker for all platforms than a fully-operational smartwatch.

The latest report by Forbes refers to the device as a smartwatch. Microsoft is building its smartwatch by addressing consumers' major complaints such as short-lived batteries. According to the sources, the Microsoft smartwatch will last over two days of regular use on a single charge compared to Samsung Galaxy Gear and Moto 360, which need to be charged once a day.

Microsoft is the only major brand that has stayed out of the wearable competition while all other tech giants have demonstrated their skills in the niche category. Even Apple, which has long been within its comfort zone, took a chance with the latest Apple Watch. Apple plans to bring its smartwatch to the market in early 2015. In the meantime, exquisitely designed smartwatches from Motorola and LG have been gaining a lot of traction lately. Motorola's Moto 360, featuring the first circular dial, attracted a vast audience and has been selling well in recent months.

The sources did not give details about what the device will be called or what price range it expects to hit. But it won't be too long before we find that out. Microsoft is expecting to take a dive into the wearable market during the lucrative holiday season.