It’s shaping up to be a busy fall for Android Wear as LG reportedly prepares a sequel to the G Watch

You might want to hold off buying a new LG G Watch: According to The Korea Times, LG is developing a new Android Wear smartwatch that could be announced early as next month at the IFA trade show. Recall that LG only came out with its first Android Wear smartwatch, the LG G Watch, this previous June.

While a second generation LG G Watch a few months after the launch of the first would be an unusually short product cycle, it would go a long way to explaining the shortcomings in the first device, which could’ve been rushed to meet [company]Google[/company]-imposed deadlines. The G Watch is $30 more expensive than the other Android Wear watch currently on sale, the [company]Samsung[/company] Gear Live, but it lacks a heart rate monitor. The Gear Live also has a higher-resolution AMOLED screen, and most likely benefitted from Samsung’s previous adventures in Tizen-based smartwatch construction.

According to the Korea Times article, the sequel to the LG G Watch will use an LG-made OLED display and a [company]Qualcomm[/company] processor. LG is also reportedly looking into partnering with established watch brands.

If you were in the market for an Android Wear smartwatch, it might be worth waiting for a few weeks: A “second wave” of devices is forming, and the new devices could end up being nicer and less expensive than the first two. Asus, an official Android Wear partner, is said to be preparing a $150 device for release next month, and Motorola is all but confirmed to be launching its long-awaited circular Moto 360 for $250 this September.

Those who plunked down $229 for a LG smartwatch that could soon no longer be the latest and greatest have good reason to be upset with LG. But keep in mind that smartwatches and Android Wear are currently the cutting edge, and one of the downsides to being an early adopter is that the second generation usually blows the first generation away.