The number of South Koreans using wearable telecommunications devices has jumped nearly 90 times over the past year thanks to the rising popularity of smartwatches in the country, data showed Sunday.

According to the data by the Ministry of Science, ICT and Future Planning, subscribers to wearable telecommunication devices totaled 320,692 as of the end of October, up 90.5 times from a mere 3,542 a year earlier.

The market for wearable devices, including smartwatches, has been growing exponentially as global tech giants strive to find a new profit source amid the slowing growth in the smartphone market.

In September, Samsung Electronics Co. rolled out its smartwatch, the Samsung Gear S2, which marks a significant change from its previous smartwatches as it features a round display.

As of end-October, the number of subscribers to Internet of Things networks reached 4.14 million, up 23.9 percent from a year earlier.

IoT is a concept in which all tangible objects are connected to the Internet and can identify themselves to other devices in order to exchange necessary data for improved efficiency and convenience.

In contrast, the number of tablet PC subscribers edged down to 560,086 from 595,045 over the cited period, according to the ministry data. (Yonhap)