LG planning to release its second Android Gear smartwatch next month

LG Electronics is already preparing to release an updated version of its Android Gear smartwatch, despite the device only being on the market for a couple of months, according to reports.

The consumer electronics giant officially unveiled its first smartwatch, the LG G-Watch, at the Google I/O developer conference in June as part of the release of Google’s Android Wear wearable device operating system.

Despite the device having been on the market for only a couple of months, the Korea Times reports LG is preparing to launch its successor, the G Watch 2, at the IFA trade show in Berlin next month.

The new device will be built with components sourced from a number of LG Group affiliate companies, including AMOLED display maker LG Display, component and materials maker LG Innotek and battery supplier LG Chem.

The G Watch 2 is designed as a competitor to Apple’s widely rumoured smartwatch, which LG executives believe could be launched along with the iPhone 6 in mid-September.

Beyond the G Watch 2, LG has reportedly approached a number of leading watch brands about “strategic collaborations” in a bid to boost the brand recognition of its smartwatches.