A couple of weeks after Motorola launched its Moto 360 wearable, HTC is reportedly working on its own smartwatch to be released later this year. 

According to a report by BGR, TKTech News reported that the Taiwanese manufacturer is already working on a smartwatch that will feature Google's Android Wear functions, enabling it to function much better in a wearable state. 

In case you are a little skeptic about this news, remember that TKTech News is among the guys which have given us exclusive details about the Galaxy S5 Prime and Active. The website has even posted a number of leaked images of the recently-launched Galaxy S5 Active for AT&T and the higher-end model which could boast QHD resolution and 3GB of RAM. 

In the report, the HTC smartwatch would make its way in the market by August or September. Dubbed as HTC One Wear, the device is tipped to get a circular design just like Motorola's Moto 360. 

In fact, the report directly says that the HTC One Wear would be 'much like the Moto 360', though we are still not certain if that includes both the design and the internals. The upcoming HTC smartwatch is also slated to come in either polycarbonate plastic or metal build. 

In case you are interested with the Android Wear family of smartwatches, BGR mentions that both the LG G Watch and the Moto 360 would get their first hands-on during Google's I/O event next month. 

The smartwatch industry began with the Sony Smartwatch, which featured basic Android functions and connects to an Android device. Slowly, more companies joined the mix, including Samsung and even Qualcomm. 

Now that other major mobile phone makers have officially announced their products, HTC shouldbe able to bring something new to the wearable niche. In a report by CNET, the tech website has already reached out to HTC to get more details. We'll keep you updated.