HP Smartwatch in collaboration with designer Michael Bastian and Gilt coming this fall

As the smartwatch trend is gaining momentum, HP is apparently getting ready to join the race with a neat wearable of its own.

It seems that smartwatches are becoming the new must-have, and heavyweight companies are joining this trend with exciting wearables. Between the new LG G Watch, Samsung Gear lineup, Motorola's upcoming Moto 360, Apple's much-rumored iWatch, and more, things are clearly heating up on the wearable device market and HP wants a piece of the pie.

This is not the first time that rumors of an HP smartwatch surface, but this time more details are available regarding the design and functionality of this upcoming gadget.

HP's upcoming smartwatch is made in collaboration with Gilt and designer Michael Bastian and will sport a circular design, much like Motorola's much-touted Moto 360 smartwatch. Unlike existing smartwatches, however, the HP Smartwatch will be compatible with both Google's Android and Apple's iOS operating systems, which should significantly boost the device's popularity.

As previously mentioned, the HP Smartwatch will come with a round form factor and it will also feature interchangeable watch straps to allow for some degree of customization. Options will include black rubber, brown leather and olive green nylon, but there will also be a limited edition black version.

No details are currently available regarding the hardware specs of the HP smartwatch. In terms of functionality, however, the device will be able to deliver notifications from your Android smartphone or iPhone for things such as calls, texts, and more.

As expected, the HP smartwatch will also come with its own companion app for iOS and Android, which will reportedly allow users to customize a number of things on the device. It remains unclear at this point just how much this gadget will cost or in which markets it will make its debut, but more details should come to light shortly.

The HP Smartwatch is expected to debut this fall and will be available exclusively from Gilt's website. If you're interested in this upcoming device and would like to learn more about it, Gilt is allowing users to register their interest in the HP Smartwatch and receive more information as soon as it becomes available. For more coverage on the device, check out HypeBeast's report here and Fashionista's at this link.

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