A new era in LG smartphone wearable technology is about to hit the market on July 8 and there appears to be much optimism and hope for this budding sector.

The new LG G Watch will be available for order online for $229 and is compatible with smartphones running Android OS version 4.3 and higher.

The G3 smartphone can be preordered from AT&T for no money down and without an annual contract under its Next and Next 12 plans.

The LG G3 smartphone and LG G Watch will also be available for purchase at retail locations beginning July 11. The company hopes that its recent PR and media campaigns will help push smartphone sales and put LG into a position to compete with the Apple and Samsung. By adding the wearable tech, it also believes it can bring together its new smartphone with its entrance into the wearables sector.

"We've been working diligently to be the first U.S. carrier to offer the brand new LG G Watch and among the first to offer the LG G3 smartphone on the nation's most reliable 4G LTE network," said Jeff Bradley, senior vice president of devices for AT&T.

"AT&T offers one of the largest and best selections of LG devices and these products take our device portfolio to the next level. The LG G3 is a cutting-edge device and our first in a next-gen Quad HD display," he said.

The G3 also offers wireless charging, a knock code to unlock the phone, lightweight metallic design and a smart keyboard with a 5.5-inch screen.

The new LG G Watch will be AT&T's first offering of wearable tech powered by Android. The company says it will give users the ability to link with Google Now to deliver "the information you need, when you need it."

Through Google Now, the watch and its accompanying smartphone will allow users to set reminders and send text messages without actually ever touching the smartphone.

"Because the LG G Watch works with so many of our Android smartphones, it should be a wearable device that appeals to a wide array of consumers," said Bradley. "Its ability to anticipate your schedule and traveling needs will help you plan your schedule more efficiently while on-the-go."

The wearable tech sector is beginning to show signs of growth. Many experts believe the second half of 2014 will be a watershed period for the new technology as it becomes more affordable and more accessible to larger numbers of people.

The question for LG will be if its smartphone offering will differ from the high-end devices already on the market. Analysts believe that in order to compete with Apple and Samsung, new innovation will be needed.