Since Samsung Electronics released its first smartwatch in September 2013, it has been nothing but relentless in putting its stamp on the nascent market for wearable devices.

In the one year since the release of that Android-powered smartwatch, the Galaxy Gear, Samsung has released no fewer than six smartwatches.

So Samsung’s keynote address at Mobile World Congress here is notable for what isn’t being launched alongside the Galaxy S6: a smartwatch.

Samsung executives won’t confirm or deny the notion, but it just might have to do with that other smartwatch about to hit the market — Apple ’s eponymous debut smartwatch, announced last September and set to begin shipping next month.

But fear not, smartwatch aficionados. Samsung isn’t sitting still. In an interview, Young-hee Lee, an executive vice president who oversees Samsung’s mobile marketing efforts, says that the company is “working on it,” with an eye on what she called product “perfection.”