We are a big step closer to a useful and enjoyable to use Android powered smartwatch. In fact, there will be one available this year for only $200 bucks! And, this isn't one of those add-on devices that requires you to synch up with your other Android phone. This is a fully functional Froyo powered smartwatch from Shenzhen Phaeton Nice Electronic High-Tech Manufacturing Co. Ltd.. It currently runs on a MTK6516 chip, but they are working on a 3G-enabled MTK6573 version that will likely run Ice Cream Sandwich in the future. The current design includes a camera, microSD slot, speaker and microphone, and a 2-inch 320×240 capacitive display.

Although this current generation is a bit on the "thick" side, they may be close to one that would make Dick Tracey and James Bond proud! Check out the video above!

Source: Phandroid