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HTC is gearing up to launch an Android Wear-powered smartwatch early next year, according to CNET. Recent rumors suggested the company had canceled its smartwatch efforts due to the steep competition in the growing space, but its plans are reportedly alive and well. The Taiwanese electronics maker is taking its time to make sure its watch stands out and will focus on the device’s design and “features that consumers will more immediately gravitate toward.”

Yesterday, HTC sent out invitations to a media event on October 8th in New York, but CNET’s sources say the company’s smartwatch won’t be on display. In addition to a new high-tech wristwatch, HTC is believed to be working on Google’s next Nexus tablet, which is expected to release sometime this year. Between Mountain View’s new slate, a smartwatch and other projects, HTC’s dance card appears to be pretty full.

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