The Facebook smartwatch is priced at about $400 and features a detachable camera for easy photo sharing on the company's social media platforms.

The Verge said it learned of further plans for a Facebook smartwatch following initial rumors about the device shared by The Information in February. According to an anonymous source at the company, the watch will feature two detachable cameras, one for video chatting and the other for capturing 1080p video.

Sources also said that Facebook is working with other companies to design accessories for the camera unit when it is not attached to the smartwatch.

If Facebook's smartwatch materializes with the camera feature in The Verge's report, it would be the first smartwatch since Samsung's Gear 2 Neo to have a native means of taking photos and videos. As far as we know, the only way to currently take pictures with a smartwatch is with a third-party accessory called Wristcam for the Apple Watch.

With an in-house designed camera system, Facebook could offer something novel in the saturated smartwatch market. Indeed, the company would need to introduce its own elements to compete with upcoming products like Samsung's Galaxy Watch 4, Apple Watch 7, and even the Google Pixel Watch.

Facebook is reportedly prepared to compete with these anticipated rivals with an LTE connectivity option so that smartwatches can maintain their communication capabilities without a smartphone; according to The Verge's sources, Facebook will working with the country's largest wireless carriers to offer cellular options to smartwatch users.

Not much is known about what the software for Facebook's smartwatch will look like, but according to The Verge, it will run "a custom version of Google's Android operating system." The report also does not share what health and fitness features Facebook will offer compared to the advanced capabilities of today's best smartwatches.

We do know that smartwatches will likely be integrated with Facebook hardware. It could possibly sync with Facebook's Oculus Quest 2 VR headset for activity tracking. It could also be the groundwork for the rumored AR Facebook Smart Glasses.