Samsung is reportedly preparing to introduce its first smartwatch running Android Wear at the Google I/O developer conference next week, according to a new report.

Not too long ago, Google unveiled its new Android Wear platform for wearable devices, teaming up with several companies to release gadgets running its OS. Samsung already launched several smartwatches, but new information now suggest that it will unveil its first Android Wear smartwatch next week.

Sources tell CNET that the upcoming Android Wear-powered smartwatch from Samsung will debut at Google I/O 2014, which will take place on June 25 - 26.

"Samsung has been working on an Android Wear smartwatch that uses Samsung's own chips, as well as another model built off of processors from Qualcomm, one person said. It's unclear which version Samsung will show at Google I/O," CNET reveals.

According to the publication's sources, the upcoming smartwatch will be similar to the company's existing Gear lineup. On the other hand, just last month some leaked patents suggested that Samsung may be working on a Moto 36-like Android smartwatch. The patents in question detailed some of the features the purported device would sport, and also showed off mockups of the gadget's design. One of the major strengths of this device seemed to lie in its ability to support hand gestures, which would allow users to control the gadget simply by moving their wrist. Another patent, meanwhile, suggested that the band of the smartwatch could also be used to control the device.

Moreover, Samsung may not be the only company ready to show off its Android Wear product at the upcoming developer conference. The same report claims that LG will also introduce its highly-anticipated LG G Watch. It remains unclear at this time, however, whether Motorola will also take advantage of the Google I/O 2014  to show off its Moto 360 smartwatch, which will also run Android Wear.

None of this is confirmed just yet, but with the Google I/O 2014 just around the corner we'll soon get the official scoop straight from the source. If Samsung does indeed plan to show off an Android Wear smartwatch at the conference, the company may offer more details in the following days. We'll keep you up to date as soon as more information surfaces, so stay tuned.