A 30-second teaser video posted at the YouTube page of LG Mobile Global hints that the next LG smartwatch will be circular in form, putting it in direct competition with Motorola's Moto 360.

There have been rumors that LG was looking to reboot its G Watch through the release of a second-generation model. The previous models of the G Watch featured square frames.

The teaser video does not reveal much about the new LG smartwatch, supposedly named the G Watch R. In fact, the only thing that it reveals is the circular form of the upcoming smartwatch.

The original G Watch was just released a couple of months ago. With a drastically new design already coming out from LG, it might mean that the design for the two forms of the G Watch was developed at about the same time. 

The first-generation G Watch may have just been a proof-of-concept that will help LG gauge the relatively young wearable technology market. In addition, LG's launch of the first-generation G Watch made it one of the first technology companies to enter the smartwatch market with a device powered up by Android Wear, a specialized mobile operating system developed by Google for wearable technology devices.

The G Watch R will most probably also be powered up by Android Wear, with possibly similar specifications compared to the first-generation G Watch due to an almost overlapping production schedule. 

The device will be unveiled at the start of September at the IFA 2014 in Berlin, which is the biggest consumer electronics trade show in Europe. This announcement date will put it ahead of Motorola's announcement of the Moto 360, which the company is set to unveil alongside the Moto X+1 at a press event in Chicago on Sept. 4.

While the G Watch R's unveiling at IFA 2014 is all but sure, earlier rumors suggested that LG will be revealing a premium wearable device at the trade show. This could mean that the G Watch R will be commanding a price that is higher than the $230 of the first-generation G Watch.

LG, however, is not the only manufacturer that has plans to launch a new smartwatch soon. ASUS will also be launching a smartwatch at IFA 2014, though teasers have shown the device to have a square frame. HTC had said that it has something in development that will be unveiled later this year. And Apple is still keeping quiet about its own smartwatch device.