Since Sony launched its first smartwatch, a lot of manufacturers have already followed suit, including Samsung and LG. LG's G Watch did not quite perform well due to competition with Samsung's own wearables, and so the Korean manufacturer will release a new version.

Dubbed as the LG G Watch R, the upcoming smartwatch is clearly inspired by the rounded Moto 360, which has certainly improved the interest of the market in wearables. However, LG's version looks more like a watch than a smartwatch, especially with a smaller screen and thicker bezels. 

Still, this is a departure and breath of fresh air from the conventional smartwatches we have on the market right now. 

Given that the upcoming LG smartwatch can arguably be considered better than the Moto 360 as far as aesthetics and 'watch features' are concerned, how about its pricing?

According to a recent report by GSM Arena, the upcoming smartwatch has already been priced in Germany, and it costs a whopping €299 or around $394. If this is the actualy pricing of the device when it hits markets soon, it would be most expensive wearable device right now.

We thought that the Moto 360 is already expensive at $249.99, but this wearable device from LG has indeed changed all that. Given that the alleged price tag is overpriced, and the LG G Watch 'only' costs $299 in the US, it will still be more expensive than the Moto 360, and with that amount of money, one can already buy Xiaomi's Mi3 which boasts specs similar to the Galaxy Note 3. 

The wearable industry has indeed expanded through the years, with more OEMs developing their gadgets to throw at the market. Even Google has launched its Android Wear system to keep the experience streamlined across smartwatches from different manufacturers. 

But given this update, are you planning to invest on a smartwatch this expensive?