The Motorola Moto 360 has been officially unveiled, but its release date is still a complete mystery, as its previously announced July release came and went with no sign of the smartwatch's appearance on any retailer shelves.

It is rumored that the Moto 360 could be released around the same time as another smartwatch, namely the Apple iWatch. According to analysts, both devices could be in the market by late September or early October of this year.

The features of this gadget are like an enigma, as Motorola has remained coy about the exact features of the Moto 360, while offering strong opinions on rival devices.

In a recent interview with TrustedReviews, Motorola's Senior Vice President of Supply Chain Mark Randall said, "Moto 360 is a really cool device that solves a lot of problems that no one else has solved in the wearables space."

He added, "We look at the 360 and we look at what everyone has done in that space. To be honest we think they are all pretty crappy. We think people just don't want to wear a lot of the devices that are out there today."

It is being reported that the smartwatch will be compatible with majority of the Android handsets that are currently available in the market. With regards to its size and appearance, it will definitely have a circular face, though the exact dimensions have not yet been announced. However, UK manager Philip Worth did say that the Moto 360 will make use of a wireless, magnetic induction charging standard. It is expected to have a longer battery life than the Gear Live and the LG G Watch.

Like its date of release and specs, details on the price of the Moto 360 are still vague. Back in May, Motorola has teased the watch's price, suggesting that the 360 would have an approximate retail value of $249. However, there is also speculation that the smartwatch will stay under the $200 mark.