ASUS is gearing up to join the wearable device race soon, as it will unveil a smartwatch of its own on Sept. 3.

The wearable tech party is heating up and smart gadgets are increasingly gaining momentum. Plenty of smart wrist bands and smartwatches are already available on the market, and a new batch of devices are expected to debut this year from various companies.

More heavyweight players are expected to join the race soon, and ASUS wants to be part of this new trend. The company will announce its first smartwatch on Sept. 3, at the IFA 2014 trade show.

"Time has been transformed, and we have changed," reads a Khalil Gibran quote that ASUS chose for its new teaser. The company's post also shows the outline of what is most certainly a smartwatch, leaving little room for interpretation.

Rumors claiming that ASUS was working on an Android Wear device have been making rounds recently, and it makes sense for the company to choose a prestigious event such as the IFA trade show to unveil the device.

ASUS' smartwatch will likely be in direct competition with the LG G Watch, the Samsung Gear Live, and the upcoming Motorola Moto 360, all of which run Google's Android Wear platform. Based on rumors so far, the ASUS smartwatch will cost somewhere between $99 and $149, which would make it the cheapest gadget running Google's new wearable platform.

While this may lead some to believe that the ASUS smartwatch will be less powerful than others, Engadget claims to have learned from its "own sources on the grapevine" that despite the lower price, the device will sport similar hardware specs to the Samsung Gear Live and the LG G Watch. One difference, however, will lie in the battery department, as the battery unit on the ASUS smartwatch will reportedly be somewhere between the unit on the Gear Live and the one on the LG G Watch, i.e. around 300 - 400 mAh.

These details remain unconfirmed for now, but one thing's for sure: a new smartwatch from ASUS will make its official debut on Sept. 3 at the IFA 2014 trade show, and we'll bring you all the latest details as soon as they become available.