Bloomberg reported Thursday that HTC would preview a prototype smartwatch at the MWC Feb. 24-27 in Barcelona. The device is said to sport technology based on Qualcomm's Toq smartwatch. The Taiwanese company is also reportedly working on two other wearable gadgets, including a smartwatch integrated with the Google Now information service and an electronic bracelet capable of playing music, Bloomberg said, citing an anonymous sources.

HTC said it would not comment on "rumors or speculation."

HTC Chairwoman Cher Wang said earlier in the month that the company plans to unveil its first wearable device in time for Christmas shopping this year.

HTC is also expected to unveil the sequel to its highly HTC One phone at a special event set for March 25.

The struggling Taiwanese smartphone maker also plans to expand its range of cheaper products for both emerging and developed markets. Chang Chia-lin, HTC's chief financial officer, said earlier this month said that the company would sell more mid-tier and budget products at US$150 to $300, while its high-end smartphones will go on sale at over $600.