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HTC is having a launch event on Wednesday, but one thing that won’t be unveiled is any sort of smartwatch.

The handset maker is still developing wearables, but decided to hold off on launching its planned device this year.

“We had originally planned to have a wearable launch in this time frame,” HTC Americas head Jason Mackenzie told Re/code this week. “It ended up just not being ready.”

Drew Bamford, who heads the HTC Creative Labs team working on wearables, said the current crop of wearables in the market don’t earn a place on the wrist.

“We’ve seen a lot of general purpose wearables come to market,” he said. “There’s not a strong reason to wear one every day. When we come to market with our product we want to make sure the product has a strong point of view and there is a really compelling reason to strap it on your wrist.”

The company said it will offer more details on its wearables strategy early next year.

“We think the strategy we were working on will get us there, but we want to take our time and get it right,” Bamford said. “We honestly don’t think anyone has gotten it right.”