When Motorola this week kicked off a new competition that gave participants the chance to win a Moto 360 smartwatch, the company mentioned in its terms and conditions that its gorgeous new wearable’s “approximate retail value” is $249.

That’s not a bad price for what is shaping up to be by far the best smartwatch yet, but before you get your hopes up too much, you should know that Motorola is now debunking reports that suggest this will be the device’s actual retail price.

Photo: Killian Bell/Cult of Android

Having sold half a million Galaxy Gear smartwatches already this year, Samsung has claimed a whopping 71 percent of the global smartwatch market. The South Korean company’s wearables, often branded a “flop” by critics, are taking advantage of the lack of competition to gain an early lead over incoming rivals.

Samsung has already announced a number of new phones and tablets for 2014, but the South Korean has lots more up its sleeve. This year’s lineup also includes a Galaxy S5 Prime, a new Galaxy Gear, a second-generation Galaxy Mega, and more — according to ever-reliable tipster @Evleaks.

I couldn’t be more excited for the Android Wear platform, and indeed one of its first supporters, the G Watch from LG. Both of which look ready to revolutionize the smartwatch, which, until now, has been somewhat lacking and in dire need of improvement.

To remind us that the G Watch is well on its way, LG today released a new one-minute teaser trailer, which makes the wearable’s impressive feature-set its focus.

LG’s upcoming G Watch will be one of a small few smartwatches that never goes to sleep, the Korean company has teased on its website. The device’s “always-on” display will allow users to view the time, weather, and incoming notifications without having to wake it up first.