LG has announced their two new smartwatches, they are the first to run Android Wear 2.0 - Watch Sport and Watch Style.
LG collaborated with Google on the smartwatches, and they will both come with Android Wear 2.0 pre-installed.
Watch Sport

The Watch Sport is a bigger and more expensive LG smartwatch. It is powered by Qualcomm's Snapdragon Wear 2100 and comes with 768MB of RAM, and 4GB of storage. It has a 430 mAh battery with wireless charging.
The watch comes with features such as LTE, GPS, NPC, heart rate, Wi-Fi, barometer, and speaker. It is also IP68 rated.
The Watch Sport comes in two colors - Titanium and Dark Blue (available in Google Store only).
The smartwatch will go on sale on February 10th in the United States at a price of $349.
Watch Style

The Watch Style comes with a slightly smaller screen and smaller 240 mAh battery. It is powered by Snapdragon Wear 2100 and comes with 512MB of RAM, and 4GB of storage.
The watch has Bluetooth, Wi-Fi, swappable bands, and an ambient light sensor. It doesn't have the same features as the Watch Sport, but as the name says - this watch is for fashion.
The watch will go on sale on February 10th, same as the Watch Sport, at a price of $249 (for Silver and Titanium versions) and $279 for Rose Gold color.
After the US, both models will be available in Canada, Russia, Saudi Arabia, South Africa, South Korea, Taiwan, UAE, and the UK in "the coming weeks." The exact date and the pricing for those countries haven't been revealed.