You don't necessarily have to own the new LG G3 phone in order to properly use the South Korean electronics firm's forthcoming smartwatch.

The LG G Watch will be compatible with all Google-powered handsets Android 4.3 and above, noted the company during its LG G3 launch event.

That makes this square-shaped Android Wear watch as widely compatible as the Moto 360, its more stylish rival with a circular face.

Of course, while both wearable devices take advantage of low-powered Bluetooth LE brought on by Android 4.3 Jelly Bean, neither is compatible with the iPhone.

Theoretically, the Android Wear platform can work with iOS, but Apple's walled-garden approach to locking away features and the recent iMessages snafu may be causing manufacturers to steer clear.

Not following Samsung's lead for once

LG and Samsung often follow each others' lead when it comes to experimenting with everything from curved TVs and phones to internet-connected lightbulbs and washing machines.

However, the two South Korean firms differ when it comes to smartwatch technology. Samsung has made its new line of watches compatible only with its own products.

That means, in order to properly use the Samsung Gear 2, Gear 2 Neo or Gear Fit, you're going to need to also carry around a Samsung smartphone or tablet for wireless syncing.

Samsung is betting on its wearables selling more Samsung devices. LG is just attempting to sell wearables to any and all Android owners, hoping for a few converts to its new flagship LG G3.

Consumers are likely to make a decision based on the LG G Watch price and release date. They weren't announced today, but LG promised to deliver "by July," making June's Google IO 2014 the perfect venue.