Samsung Electronics Co. Ltd. may be late to the party, but the company will reportedly launch a smart home speaker in the first half of 2018.

The company will be entering a highly competitive market currently dominated by Amazon.com Inc., while Google LLC has also positioned itself well with its range of smart home speakers.

Samsung will also be entering this market around the same time as one of its biggest rivals. Apple Inc. will unveil its HomePod early next year, following the company pushing out its original December release date.

Considering the virtual personal assistant-enabled wireless speaker market is forecast to reach $3.52 billion by 2021, according to Gartner Inc., up from $720 million in 2016, it’s not surprising that more companies are exploring the market.

Although Samsung confirmed in August that it was working on a smart home speaker, no additional details were provided by the company. Speaking to people briefed on the plans, Bloomberg reported that Samsung’s speaker will have a “strong focus” on audio, similar to the HomePod and new Google Home Max. Powered by the South Korean tech giant’s digital assistant, the speaker with Bixby integration will also manage various connected home appliances.

Bixby received a lackluster response from users when it launched on the Galaxy S8, but later received an update with Bixby 2.0 in October. Samsung is still reportedly working on improving the speaker’s ability to conduct voice-based web searches, according to Bloomberg.

The smart home speaker will be able to control various smart locks, lights and more via the SmartThings ecosystem, which Samsung acquired in 2014. Samsung has declined to comment, but sources said the speaker will also work with TVs, Galaxy smartphones and other Samsung devices. Samsung announced during the Bixby 2.0 launch that the digital assistant will be available on Samsung TVs in Korea and the U.S. next year.

The size of the Samsung speaker will reportedly sit between the Amazon’s second-generation Echo and Apple’s HomePod and will be available in a range of colors, including matte black. The speaker won’t have a screen, like the Echo Spot and Echo Show, but will sport lights on the top of the device for visual feedback.

Pricing and release date could still change, but Bloomberg’s sources said the speaker will be priced around $200. This is more than the $100 Amazon Echo and $129 Google Home, but much less than the audio-focused HomePod at $349 and Home Max at $399. Samsung plans to make its speaker available in multiple markets, possibly also including the U.S.

Google’s Echo Show competitor

Google has declined to comment on whether it plans to expand its Home lineup, but Bloomberg spoke to two sources who have confirmed the company is working on an Amazon Echo Show competitor with a touchscreen. Codenamed “Manhattan,” the device will launch as early as next year.

This isn’t the first time that a possible Echo Show competitor from Google has been reported. Reports emerged in September that Google was working on a new device with a seven-inch touchscreen.

Image: Samuel M. Livingston; Flickr