If the rumored Apple iWatch ever does launch, it's expected to rely pretty heavily on Nike technology and talent. Now, a new report from Yonhap News in Korea claims Samsung could be looking for a fitness partner of its own. The company reportedly met with Baltimore-based athletic clothing-maker Under Armour to discuss working together on future wearable devices.

The meeting between Samsung Electronics vice chairman Lee Jay-yong and Under Armour founder and CEO Kevin Plank reportedly focused on how the two companies could work together to take on Apple and Nike in the growing wearables market. Yonhap News also notes that Lee was recently spotted wearing an Under Armour shirt during a media conference last week in the U.S., lending further support to the rumor.

Unlike Nike, Under Armour doesn't currently make any wearable devices that could be folded into Samsung's lineup. The company did acquire MapMyFitness last year though, signaling an interest in collecting and analyzing exercise data. Samsung could certainly make use of that data. Samsung could slap the Under Armour brand on new devices, which might resonate more with athletes compared to the Galaxy-maker's current Gear lineup.

It could be a while before we see anything substantial come from the alleged meeting, and such pow-wows don't don't necessarily mean a physical product will materialize.