In a nutshell: Samsung has introduced an updated version of its Galaxy SmartTag tracker designed to help users keep track of valuables. The new Galaxy SmartTag 2 utilizes both Bluetooth Low Energy and UWB (ultra-wideband), and can use augmented reality to visually guide users to their items. Lost mode, meanwhile, allows users to add contact information to a tag, which can be read by anyone who discovers a tagged item so long as their device has an NFC reader.

Samsung also baked in an "unknown tag alerts" feature that will warn users if an unknown SmartTag is following them, in hopes of quelling fears related to abusing location tracking services.

Samsung has boosted battery life on the second-gen tracker as well. In normal mode, users can expect up to 500 days of runtime – a 50 percent increase compared to the original SmartTag. With the new power saving mode, you can expect upwards of 700 days of usage.

PCMag recently spent some time with Samsung's new tracker and noted the user-replaceable coin-style battery (CR2032). Swapping it out requires a pin tool and can be a little difficult, but at least it can be done at home and does not necessitate buying a brand new tracker every time the battery runs out.

The SmartTag 2 carries an IP67 rating against dust and water, and when switching to a new Galaxy smartphone, the tag will automatically re-sync to your new device using your Samsung account. Like the original, the new tracker only works with Galaxy smartphones, and you will need to be running at least Android 9.0 or higher on a device with at least 3 GB of RAM.

The SmartThings Find app is also required, as the tracker does not work with Google's Find My Device. The app now affords a full screen map view and an improved interface to make tracking a tag easier than ever.

Samsung's SmartTag 2 launches globally on October 11 priced at $29.99 in your choice of black or white.