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Samsung has announced that it has picked the first 200 finalists in its Samsung Gear App Challenge, each of which will receive $2,000 and move onto the second round of the competition to help develop the best apps for the wearable devices.

The company said that it received 980 entries for the first round of competition, with a wide range of apps made for the Gear products such as a "LBS (Location Based Service) app, schedule management app, RSS feed app, Samsung gear-linked game app and more." Entries came from 69 different countries.

The second round of the challenge will begin on Friday, August 22 and from that round 40 winners will be picked, which will share from a cash pool of $850,000. The final grand prize winner will get $100,000 and the top 10 winning entries will later be presented to the general public for their vote. The person who made the app with the most votes will win a BMW i3. Also, the top 10 apps will be shown at the upcoming 2014 Samsung Developers Conference in San Francisco in November.

What do you think of Samsung sponsoring a contest to create apps for their Gear devices?

Source: Samsung