Google is making a new smart speaker with better sound to compete with Amazon Echo and Apple's HomePod

Google is working on a premium version of its Google Home smart speaker called Google Home "Max" that will play music in stereo, according to 9to5Google.

That means the Google Home Max could come with more built-in speakers than the current model to produce stereo sound.

9to5Google predicts the Google Home Max will come with dual mid-range drivers and a single tweeter, whereas the current Google Home's "high excursion" speaker isn't configured to play stereo music.

It would seem the Google Home Max is set to compete against Apple's HomePod, which comes with seven tweeters and a high excursion woofer to produce 360-degree sound. Apple's HomePod is set to release in December. It would also likely compete against the new-and-improved Amazon Echo announced this week.

It's still not clear how much the Google Home Max will cost compared to the $129 Google Home, Amazon's $99 Echo, or Apple's $349 HomePod. If the Google Home Max is, indeed, designed to compete with the HomePod, we can expect the Max to come with a similar asking price as the HomePod.

Google is hosting an event on October 4 for its new Pixel 2 smartphones, but it's also unclear whether the Google Home Max will make an appearance during the event.

Get the latest Google stock price here.