A slew of exciting new gadgets are expected to debut at the Mobile World Congress (MWC) 2015 and a 4G-enabled LG G Watch R2 may be one of them.

The wearable device market is expected to gain even more momentum in 2015, with the Apple Watch and some new Android Wear offerings. Things have already heated up on this segment of the market this year, with various companies joining the race and offering neat wearable gadgets.

LG, for its part, has launched two smartwatches this year: the LG G Watch, which served as a launch vehicle for Google's Android Wear OS, and the LG G Watch R, which boasts a circular form factor to compete against Motorola's much-touted Moto 360 smartwatch. Both devices run Android Wear.

According to a new report out of Korea (via GforGames), however, LG is already getting ready to launch a G Watch R successor at the MWC 2015 in February. Dubbed the LG G Watch R2, this smartwatch will reportedly boast 4G connectivity, which means that it will allow the gadget to function independently from a smartphone or tablet. So far, the Samsung Gear S is the only smartwatch that offers this functionality, as it comes with 3G connectivity.

Considering that it is expected to come as a successor to the LG G Watch R, and not the LG G Watch, the upcoming smartwatch should also sport a circular form factor instead of a rectangular design as most smartwatches out there.

No other details are available at this point and it remains unclear just which other improvements the LG G Watch R2 will sport over its predecessor other than 4G connectivity. As a reminder, the original LG G Watch R (pictured above) comes with a 1.3-inch P-OLED display with a resolution of 320 x 320 pixels and packs a 1.2GHz Qualcomm Snapdragon 400 processor under the hood, paired with 512MB of RAM and 4GB of internal storage capacity.

The 4G-enabled LG G Watch R2 should sport some notable improvements over its predecessor, and is expected to run Android Wear as well. If this report turns out to be accurate and LG is indeed gearing up to unveil a 4G-enabled G Watch R2 at the MWC 2015, more information should become available soon enough. We'll keep you up to date as soon as we learn more, so make sure to check back.