Speculations suggest that Asus is also planning to go head-to-head with Samsung for its wearable lineup and will debut the ZenWatch 3 at around the same time as Samsung unveils its Gear S3 watch.

Asus has announced that it will be holding a press event, with the launch described as "The time for something incredible is now." The subtle tag seemingly hints at a smartwatch, and the unveiling will happen at the same time as Samsung's Gear S3 launch on Aug. 31.

However, similar to how Samsung is keeping the Gear S3 under wraps, not much is known about the ZenWatch 3. However, Android Authority mentions that a recent FCC filing may have inadvertently displayed the upcoming Asus wearable. Supposedly, the new Zenwatch will have a round body design, and will include smartwatch features like a stainless steel body and may also have customizable wrist bands. Other purported specs for the ZenWatch 3 include Wifi and Bluetooth 4.0 connectivity, fast charging, and customizable keys. In addition, the new Asus smartwatch is also expected to launch with Android Wear 2.0 right out of the box.

It is unclear if Asus also plans to launch the Zenfone 3 as a full lineup, with other iterations under the series. Its likely rival, the Samsung Gear S3, is confirmed to debut with at least three versions in the lineup. There are talks that included in the Gear S3 lineup is a top-tier, premium Explorer edition, with IP68 rating and custom wrist bands.

Meanwhile, although the debut may not reveal a price tag right away, it is expected that the ZenWatch 3 will be bracketed as an under-$200 wearable, possibly around $150. Observers believe that it is highly possible, considering that Asus will need to come out with an aggressive price break, since smartwatch sales have gotten a downturn this year.