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(Image: SAMSUNG)

Samsung unveiled its latest tech timepiece at the IFA tech show in September, coming in two styles and including a wave of new features such as water resistant design, in-built GPS and the ability to make contactless payments.

The Samsung Gear S3 release date in the US has been set for later in November and now the tech company has revealed the full price of their new device.

The South Korean company will be selling their new smartwatch with a £349 price tag, a big rise over the current Apple Watch Series 1.

The Apple Watch Series 1 starts from £269 for the 38mm case, and £299 42mm case, although there is a big difference between it and the Apple Watch 2.

While it boasts the same dual-core processor as the Apple Watch Series 2, the entry-level wearable is not waterproof to 50 metres, nor does it have an in-built GPS.

There's also Samsung's iconic rotating bezel, which allows users to navigate the apps and messages on the 1.3inch circular AMOLED display, and a 4-day battery life.

Samsung Gear S3 is also compatible with any smartphone running Android 4.4 KitKat or higher, with 1.5GB of RAM.

The new wearable comes in two different styles, the Gear S3 Classic and S3 Frontier sports watch, which have been calibrating for different activities.

The Frontier is a fitness-minded watch, as well as a leisure wearable, while the Classic variation “pays homage to the minimalist, elegant style found in the most iconic timepieces.”

That’s according to Samsung, who have confirmed that both variants of the tech timepiece keep the same spinning bezel mechanism pulled straight from the successful Gear S2 series.

"Whether you thirst for adventure, or prefer a more classic design, both are the perfect blend of form and function," the South Korean firm teases on its website.

"Welcome to a new generation of smartwatches."