A few reports have surfaced recently suggesting that LG is working on a smartwatch for Google. TechnoBuffalo can confirm after speaking to an industry source that a device is indeed far along in development, and we have a bit more information to share on the topic. Right now, it appears that Google is searching for OEMs to build its smartwatches, but LG is definitely on board and has developed a prototype device, sources said. HTC has been named as another possible OEM by Bloomberg. Additionally, the watch will make its debut during Google's I/O developer conference in June.

We're told it looks a bit like the Sony Smartwatch, meaning it has a square display instead of a curved or rounded one, making it more in-line with existing smartwatches on the market. Additionally, it will have always-on access to Google Now, like the Moto X, which means you can speak commands at any time. A color screen is in tow, though the size is still unknown, and it will use a simple strap instead of anything particularly special – we're thinking rubber or plastic is probably the go-to option. The device does not have a camera, we're told, and it doesn't appear that it will also be able to place calls – instead it will receive notifications from Android smartphones.

Additionally, and we're reporting on this in a separate story as well, Google will announce its own smartwatch operating system sometime in the spring. Right now it's looking like the timeframe will fall between March and May, ahead of Google I/O. The company will announce the operating system so that additional OEMs can get on board and so that apps are ready when the phones hit the market.

Right now it's looking like LG is going to be the first to the market with a Google smartwatch – ahead of anyone else – particularly because Google is involved at some level in the development.

We contacted LG in regards to the story, but the company declined to comment.