Google just introduced Android Wear today which is an Android-based OS for wearable devices such as smartwatches. They are already working with partners such as Asus, HTC, LG, Motorola and Samsung among others to build watches and wearables to be available later this year.
Read more about it here: http://developer.android.com/wear
Motorola meanwhile also announce the Moto 360. Read more about that here: http://moto360.motorola.com/