So Samsung had their Smartwatch release today in Berlin.
http://www.theverge.com/2013/9/4/4692824/samsung-galaxy-gear-features-specs-release-date-price
It's more or less a Bluetooth connected notification screen, camera with video (upto 10 second video at 720p clips), and speakerphone accessory.
Requires a Samsung Bluetooth 4.0+ capable phone to work, you must have phone apps to control it to use it for all most anything.
320x320 screen
800MHz single core (similar to ~2008 smartphones), 512MB of RAM
4GB non upgradable
Runs a stripped down Android though it's unclear if it can access the Google Play store or if it's crippled to just some Samsung app store (seems like the later).
Comes in 6 colors, all with a silver metal front
Pedometer
Price: $300
Early on-site reviewers note that the UI has notable lag and that the multi-touch input is not very good overall.
Your move Apple.
-Fulbert