Verizon announced the release of their own smartwatch, the Wear24. The new smartwatch is one of the brand's wearable devices that will use the new Android Wear 2.0 software.

With the partnership with Quanta, Verizon built their own Wear24 smartwatch. No exact release date has been disclosed as of writing, but according to a CNET report, the small box beside the three-hour mark hints at a possible March 25 launch.

The new Wear24 smartwatch by Verizon will come with 4G LTE-connection. It will cost about $300 with a two-year activation, and $350 if buyers choose to purchase just the device without a contract. Sources consider it strange for a carrier to sell its own produced smartwatch, but the Verizon is giving it a shot anyway.

The Verizon Wear24 also features a 450mAh battery, IP67 water resistance and a 1.39 inch AMOLED screen. Aside from these mentioned specs, no other details were released to the public.

Despite the new release, new reports have started to claim that smartwatches don't really sell very well in the market, and the demand has slowly declined. Many companies that manufacture smartwatches are closing one-by-one due to the poor sales. Even the biggest Google Android Wear partners, such as Samsung, Huawei and Motorola, have essentially abandoned the software, a Business Insider report noted.

One possible reason why it didn't click with the public is that most of its features can already be in smartphones. But despite the issue at hand, Verizon stays very optimistic by releasing the Wear24.

What do you think of the new Wear24 smartwatch from Verizon? Sound off below!