The announcement was apparently made at the company's UK showcase in Weybridge, and is the first indication of UK pricing for the Android Wear technology.
Matt Warman writes:
It indicates that Google will target a much lower price point for its wearable devices that companies such as Samsung have previously aimed at with their Gear smartwatches.
LG also revealed a non-functioning demonstration unit, showing a rectangular watch face with no buttons and a plastic strap, in line with their previous mock-ups. It contrasts with the round Android Wear device shown by Motorola when Google announced the software earlier this year.