There’s been a lot of talk this year about the potential impact of smart watches on the consumer electronics market. Analysts think it will be the next big thing, and that has one struggling smartphone maker reportedly trying to cash in on the craze before it explodes.

Bloomberg reports that HTC is the latest smartphone manufacturer to be interested in making a smart watch. A source close to the company says that HTC’s smart watch will run on Android and be released in the second half of 2014. Beyond that, there were no other details shared.

Despite not knowing much about it, HTC entering the smart watch market makes perfect sense. After all, the company is struggling to make an impact in the smartphone market as it competes against behemoths like Samsung and Apple. With a smart watch, it only has to beat Apple to market while simultaneously making something that doesn’t look as silly as Samsung’s Galaxy Gear.

Speaking of Apple, a report from back in March said that the company would be launching its “iWatch” sometime later this year. It skipped the iPhone event back in September, but Apple has an event schedule for today in which it will reportedly unveil its next iPad and iPad Mini. The company said it had “a lot to cover” in its invitation, however, and that could mean an iWatch unveiling could happen.

If an iWatch were to be unveiled today, it would put enormous pressure not just on HTC but every potential smart watch manufacturer. Even if Apple doesn’t do anything extraordinary with its smart watch, the branding alone would push HTC, Microsoft and others to bring their A game to the smart watch market next year. It would also solidify recent rumors that Samsung is already planning to replace the Galaxy Gear within a year.

With all that’s happening in the smart watch world, it’s pretty obvious that HTC would want a piece of the pie. Should it really try for it though? After all, it built what was arguably the best smartphone of the year with the HTC One and it still failed to capture any marketshare away from Samsung. Even if Samsung’s Galaxy Gear doesn’t do remarkably well, can HTC offer anything in a smart watch that would convince consumers to wear what amounts to a mini-smartphone on their wrist?

[Image: HTC/YouTube]