Korean Times, which received the information from a person close to the projects, LG is also working on a device similar to Google Glass. It is possible that either device, or both of them, will be powered by the nascent Firefox OS instead of Android. LG and Samsung, according to an executive of a Korean parts supplier, have the edge in producing a smartwatch because they can manufacturer most of the necessary parts, including the display.
The same executive said that there remains many questions about whether a smartwatch would be sold like a smartphone, and the pricing of such a device would also have to be decided upon. Another executive in the industry said that the smartwatch market must be mature and have strong demand to accept all of these competing watches, adding that not all concepts eventually reach the market.
source: KoreaTimes via AndroidAuthority