The LG G Watch has been on sale for less than two months, but according to a new report from Korea, an LG executive has confirmed the company is already working on its second Android Wear device. Expected to launch this fall at IFA, the G Watch 2 is being labeled a “serious game changer,” and it’s being designed with Apple’s iWatch in mind.

Citing an LG official, Korea Times reports that LG’s new smartwatch will be a direct competitor to the rumored iWatch, which some reports suggest will finally make its debut alongside new iOS devices the fall. LG is said to be in talks with “top watchmakers” to develop a premium design built from solid materials like the stainless steel Moto 360.

Inside the G Watch 2, sources say we’ll see a Snapdragon processor, and a much-improved LG display and battery, addressing two of the biggest complaints — display brightness and battery life — users have had with the original G Watch.

According to the report, the G Watch 2 is already in an advanced development stage, and LG is hoping to have it ready for an unveiling at IFA 2014 in Berlin next month. It seems unlikely, however, that the company would launch a second Android Wear wearable just three months after its first went on sale.

Take this report with a pinch of salt for now, then. It cites an LG executive but it doesn’t make any promises, so don’t be too disappointed if the G Watch 2 doesn’t show up in Berlin next month.

• SourceKorea Times
• ViaG for Games