ASUS previously confirmed plans to launch a smartwatch later this year and more information has now surfaced regarding the company's upcoming Android Wear gadget.

LG and Samsung have already taken the lead in the race to bring the first Android Wear-powered devices to market, as the two companies just launched their G Watch and Gear Live smartwatches, respectively. Motorola was not ready yet to introduce its Moto 360 at Google I/O 2014, alongside the LG G Watch and the Samsung Gear Live, but its round-shaped smartwatch will nonetheless arrive later this summer.

While ASUS was scarce on details when confirming plans to launch a smartwatch this year, a new report now claims to have more information on the matter. Citing "a source familiar with the company's plans," TechCrunch reveals that ASUS plans to launch its Android Wear smartwatch in September. The device will reportedly sport an AMOLED display and come at an aggressive price point, below those of the LG G Watch and the Samsung Gear Live. This would mean a sub-$200 price point which, if it turns out to be accurate, may give serious competition to other Android Wear devices.

In fact, TechCrunch notes that ASUS' upcoming smartwatch will likely be priced between $99 and $149 when it launches, which would mean a significantly lower price compared to its newly-unveiled rivals.

ASUS reportedly decided to launch its Android Wear smartwatch later this year because it didn't want to "rush" things, the publication further learned from its source. LG, for instance, reckoned that its G Watch doesn't have a heart rate monitor because it simply didn't have enough time, which suggests that Google likely imposed some launch schedule so it could unveil its Android Wear OS along with new devices at I/O.

The smartwatch race is apparently heating up and more big players are expected to join the party this year, including Apple with its much-rumored iWatch. Android Wear is expected to widen its range of available devices by the holiday season, and ASUS will most likely be part of this move. The price and the September time frame are not officially confirmed, however, so take this report with a grain of salt until further notice.