Google has its sights set on Samsung's Galaxy Gear, seen above. (Flickr/Kārlis Dambrāns)

The smartwatch wars are on.

Anonymous sources told The Wall Street Journal that Google is not only near "late-stage development" of a wearable computer device, but that "the company is in talks with Asian suppliers to begin mass production of the device."

The Journal's sources said the smartwatch "could be ready for mass production within months."

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It is expected that the device will run on Android, like competing smartwatches from Samsung and Sony. Unlike those devices, Google wants to build their smartwatch experience around Google Now, the Siri-like voice assistant that launched in 2012. The Wall Street Journal expects the watch to be more of a smartphone accesory, rather than a standalone device.

No other details are known at this time.

The Journal's story jives with an Engadget report from last year detailing Google's patent application for a Google Glass-inspired smartwatch. The smartwatch patent was notable at the time for its unique "transparent, flip-up touchscreen" that rebuffed traditional smartwatch design.

Rumors have been circulating for years Apple is also preparing a smartwatch. At the AllThingsD D11 conference last May, CEO Tim Cook admitted that he saw "wearable computing as a key branch of [Apple's] tree."

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If Google is successful in getting the first consumer-friendly smartwatch device to market before Apple, it could be a significant blow to the iOS ecosystem and give credence to concerns that Apple has lost its ability to innovate.

Reach editor Will Federman here or tweet him at @wfederman.