Takes on Apple iWatch, Samsung and Google
According to a report from Korea Times, LG is also reported to be planning a device similar to Google’s Project Glass.
The LG smartwatch is anticipated to be launched around the same time Apple will launch iWatch and Samsung will introduce its wristwatch.
"It is one major part of many currently non-commercialized products under development by LG Electronics," the report said. "The company has spared no efforts to invest in products that it believes are must-haves to stay ahead technology wise in the market, whatever the situation may be."
It’s rumoured that features of Apple’s iWatch include Intel chips and take design cues from an earlier version of the iPod Nano. It will be controlled by a 1.5" touchscreen, with the compnay’s Siri responsible for enabling users to control it through voice commands.
The move by smartphone makers is aimed at creating a new industry of wearable devices that have similar functionalities to smartphones.
LG is planning to increase its sales to 40 million smartphones in 2013, up 51% from 2012, in a bid to rival Samsung and Apple.