SamMobile was the site that got the original scoop about the Galaxy Gear. That report has since been backed up by The New York Times, Bloomberg, and The Verge. So we have a strong feeling that this report is close to correct.
Samsung is expected to unveil the Galaxy Gear at an event on September 4. It'll also use that event to announce the Galaxy Note III, Samsung's third-generation "phablet" with a giant screen and stylus.