The latest smartwatch in the market was finally revealed by Chinese tech firm Huawei during its scheduled press conference at the 2015 Mobile World Congress in Barcelona, showcasing a classic design with full functionality. 

Huawei consumer business group CEO Richard Yu talked about their latest product during the launch early this week. According to Yu, they "have responded to consumers' requests from around the world asking for a smartwatch featuring a timeless design that is truly smart from within." 

The company also plans to market the new wearable device in the higher end of the spectrum, which means that it is planning to compete with the likes of the Apple Watch that the Cupertino-based tech giant is expected to launch in a few days, as well as the earlier Moto 360 from Motorola Mobile. 

According to Time, the 1.4-inch round-faced wearable device with touchscreen AMOLED display runs using the Android Wear operating system. The Verge, on the other hand, reported that the new smartwatch from the Chinese brand also features a six-axis motion sensor, a Qualcomm 1.2 GHz processor, 4 GB storage, and 512 MB of RAM. The new Huawei smartwatch also has a heart rate monitor. 

The new Huawei device has the same storage capacity as the Apple Watch and the Moto 360, which also has 512 MB RAM and 4 GB internal storage. But the Moto 360 comes with a TI OMAP 3 chipset. On the other hand, the specs details for the first ever Apple wearable device are still being kept secret by the iPhone maker at the moment. 

In addition, Huawei also reported during the press launch that the new wearable device will have 40 watch faces for varied screen displays, including several analog-watch appearances as well as one with a moon-phase design. 

The new Huawei watch is expected to be out by mid-2015, and its exact availability date and actual prices will be revealed sometime soon.