As the world prepares to bid farewell to 2013 and welcome 2014, one wonders which direction will wearable techniology be taking. With companies like Samsung and Nike already jumping onto the bandwagon, it's now LG's turn, which has confirmed that it is working on a "wearable product."

Rumors regarding LG working on a smartwatch have been flooding the blogosphere for a while now and when Engadget reached out to LG for official comment, the company did not spill beans particularly about the smartwatch but said a "wearable product" is in the pipeline.

However, according to The Korea Herald, it's not just one but two wearable devices that LG might be working on. One of them is a smartwatch, dubbed G Arch, while the other product is a fitness tracker called G Health, whose features will be similar to Nike Fuel Band.

The rumor also tipped that G Arch will work with an LG phone but its compatibility with other Android phones is iffy.

The Herald also has some news regarding LG's next iteration of its flagship phone, LG G3, which is likely to get a fingerprint sensor for unlocking, akin iPhone 5s. The phone might be powered by a 2.2GHz octa-core processor sporting a a quad HD display.

The rumored wearable devices from LG might be launched at Mobile World Congress (MWC), which will be held in Barcelona, Spain, in February next year. 

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