It seems that LG is preparing the next neneration of the LG G watch.
A new LG device with model number “LG-W120L” has been spotted on LG U plus website, The model number prefix “w’ indicate that the new device is a LG smart watch powered by Android.
The LG-W120L might be the LG G watch with Built-in SIM card.
Stay Tuned!
This is actually confirmed to be running Open webOS. This video shows that at 52 seconds in http://youtu.be/_EGRJPNZvX4n