China-based Lonshine Technologies is developing new analog -smartwatch products that use a transparent OLED over a mechanical watch. There are two devices, the Halo 1 (a smartphone companion) and the Halo 2 (which includes 2G wireless and can work without a companion phone).
Both devices use the same transparent PMOLED that features a resolution of 96x96 and can display up to 256 colors. The watches are powered by an Intel XMM 2231 ARM chip (300Mhz), Android 2.3, 512 MB of RAM and 4GB of storage. There's a 240 mAh battery (a 3150 mAh one on the Halo 2) that should last for three days.
A few month ago Kairos announced a very similar product line. The Kairos watches are available for pre-order ($499 to $2,149) - and will hopefully start shipping in December 2014.