LG Electronics (KRX:066570) is rumored to be testing a prototype for the successor of its LG G2 smartphone that is expected to arrive with a smart watch as early as February.

According to a new report from The Korea Herald on Wednesday, the new handset, dubbed the LG G3, will feature a fingerprint sensor similar to the iPhone 5s Touch ID-style fingerprint-recognition technology. Except that the G3's sensor would be activated by a swipe while iPhone users tap on the Home button to get in.

“LG has recently made a decision to adopt the fingerprint scanner on the upcoming G3, the successor of the G2, and is conducting a series of tests for the product,” an anonymous official told the publication.

The report said that the upcoming LG G3 smartphone will include Google’s (NASDAQ:GOOG) latest Android 4.4 KitKat mobile operating system, a 2.2 GHz octa-core processor and a Quad HD display.

According to the official, more smartphone makers will follow Apple’s (NASDAQ:AAPL) footprint to roll out smartphones with fingerprint-scanning features next year. Apple, on the other hand, is expected to incorporate fingerprint scanners on a broader range of its products including tablets.

In addition to the G3 smartphone, LG is also rumored to launch a G-Arch smart watch and G-Health fitness band along with the handset. The source also revealed that the new smartphone and the wearable gadgets will be unveiled at the Mobile World Congress, which is scheduled to be held in Barcelona, Spain in Feb. 2014.

Earlier this year, a possible plan for a smart watch was leaked by an LG executive, and the company also showed off a yet-to-be-released Fuelband-like Smart Activity Tracker at the CES 2013, Engadget reported.

Although LG is mum about the current rumors, it confirmed to Engadget that a “wearable product” is indeed in its pipeline.