According to a recent report in the Wall Street Journal (WSJ), Web search giant Google is working on a game console as well as smartwatch; both devices to be powered by the company's own Android software.

The report about Google set to venture into two new markets, especially the Android-based game console arena, comes close on the heels of the recent launch of the Android-based video game console Ouya.

The WSJ report, citing unidentified sources familiar with the developments underway at Google, said that Google's plans to develop a game console and a smartwatch are apparently aimed at any potential competition which the company may face from Apple in both the markets.

Google's interest in the game console and smartwatch segments is seemingly rooted in the fact that the company is presently competing against Apple and its range of products.

Drawing attention to the increasing competition between Google and Apple, the WSJ report said: "With the watch and game console, Google is hoping to combat similar devices that Apple Inc. may release in the future."

Going by the information supposedly shared by the unnamed WSJ sources, the game console and the smartwatch which Google is developing may likely hit the markets in fall this year.