iWatch vs. Galaxy Watch

There are rumors that Apple is working on an iWatch:

http://bgr.com/2013/02/13/apple-iwatch-details-bloomberg-326158/

And that Samsung is working on a Galaxy Watch:

http://bgr.com/2013/02/14/samsung-galaxy-watch-images-rumor-327615/

Really? Based on those articles, wristwatch computing is a "major hole" in their product lines and these will fill it. I'm skeptical.

Myself and at least a few people I know stopped wearing watches because our phone tells time and does so much more... so why go back?

Now, I understand that these "watchputers" are supposed to do more than just tell time... but with such a small amount of space, how much more can they do without sacrificing size and battery life?

It might be kind of cool if it can function as a phone too so that you don't have to worry about pockets, holsters or armbands... but that kind of miniaturization has to be expensive and cost prohibitive. Even the Pebble Watch (http://getpebble.com) is $150 so how much more will these be (although if it has phone functionality, could get carrier subsidies).

I'm sure these will be more like vanity gadgets and the previous gen iPod Nano proved it can fit in that form factor but I don't think this will become a money maker segment.

I guess we'll see.. but I think the minimum features should be:

- Camera (video and still)
- GPS
- Expandable memory storage
- Bluetooth (to interact with your phone)

I'm still watiing for someone to get a 5-7" tablet with physical game controls right (Archos is close).