A decent smartwatch isn’t cheap, but the upcoming G Watch from LG — one of the first wearables to be powered by Android Wear — could be significantly cheaper than you were expecting. According to one report, the device will available in Europe on July 7, and it’ll cost less than the entry-level Galaxy Gear 2 Neo and the Pebble Steel.

“The G-Watch is going to be released on 7th July in the UK and the RRP will be BELOW that of the Gear 2 Neo, which currently retails for £169.99,” reports MoDaCo’s Paul O’Brien. In the U.S., the Galaxy Gear 2 Neo sells for $199.99, while the Pebble Steel is $249.

O’Brien didn’t reveal the actual price of the G Watch, but he promises to do so “as soon as we’re able to share it.”

If the G Watch is indeed cheaper than the Pebble Steel and the Galaxy Gear 2 Neo, than it would be a tremendous boost for Android Wear. The platform makes its debut this summer, and although it is undoubtedly the most exciting wearables platform we’ve seen so far, it still has tough competition from existing devices.

If Android Wear devices would have been more expensive than those competitors, then adoption likely would have been slow.

But how exactly has LG made the G Watch so cheap? Well, according to @UpLeaks, a reliable leaker who previously posted videos of the device’s boot animation, the device may not be as premium as we had anticipated.

A leaked specifications sheet suggests the G Watch will have a low resolution (280×280) display, and just 4GB of internal storage — 512MB of which will be used as RAM. It may also lack many of the features that come with rivals like the Galaxy Gear, including a camera (though who needs a camera in their watch?), an IR blaster, and even a music app.

Of course, a lot of this is yet to be confirmed, so we shouldn’t read too much into this information until that happens. Whatever the case may be, I’ll be first in line for a G Watch as soon as they go on sale, so form an orderly line behind me.

• SourceMoDaCo