Huawei CEO Richard Yu has revealed that his company is working on a smartwatch, which will be launched next year. Although Yu did not share any specifics, he did say that the smartwatch will be powered by Android Wear.

Huawei’s smartwatch plans aren’t the company’s first attempt at a wearable device, the Chinese manufacturer had earlier launched TalkBand B1 fitness tracker, which also worked as wireless ear-piece for your smartphone.

As Huawei jumps in the Android Wear arena, UK blog Pocket Lint has reported, citing an unnamed sources, that HTC has shelved the plans to launch an in-development smartwatch. There is no word on why the plans for the smartwatch were shelved.

Pocket Lint’s unnamed source noted that HTC’s smartwatch was based Qualcomm’s Mirasol display-totting Toq device and probably lacked the wow factor, which HTC was aiming for.