Google acquired smartwatch maker WIMM Labs back in 2011, who is working with the company on a new smartwatch. WIMM Labs released the WIMM One smartwatch a few years ago that ran a modified version of Android, so this could be the future for Google's smartwatch.
The WIMM One featured its own micro app store, that included apps such as a calculator, compass, photo gallery and an app that treated the smartwatch like a remote control for your Android device. Twelve months ago, WIMM Labs stopped sales of its WIMM One smartwatch, deleted its Twitter account and posted the following note on its website:|
During the summer of 2012, WIMM Labs entered into an exclusive, confidential relationship for our technology and ceased sales of the Developer Preview Kit.
We of course know that this is because Google scooped the company up, now we just have to wait for the Mountain View-based giant to show its hand, pun intended.