Sony is reportedly getting more involved in the smartwatch game with a new band made out of electronic paper.

People familiar with the situation say the watch's surface area will serve as a display and will be able to change its appearance. The Japanese tech giant is focusing on beating Apple's watch and those of other competitors through its unique style, rather than technical capabilities, according to Bloomberg.

The device is also part of Sony's new venture-styled approach to making its products. Sony CEO Kazuo Hirai started a business creation division this year that aims to create products that don't fit in the company's current businesses.

The launch of a new smartwatch is also another way Sony is looking to improve its business, with other methods including slashing its TV and mobile phone lineups to cut costs and focusing more on bringing in revenue with its PlayStation 4 video game console and image sensors, CNET reported.

Sony already has a smartwatch on the market to compete with LG, Pebble and other companies. The $250 Smartwatch 3 comes with waterproof straps, and it works with Google's Android Wear operating system.

Other details about the capabilities of Sony's new e-paper smartwatch have yet to be revealed, but smartwatch fans will reportedly have to wait until 2015 to get their hands on it.