I've written before that the current state of smartwatches is reminiscent of the earliest Android tablets, before Google released a proper version of Android for larger screens. While some companies are trying to make Android-based smartwatches already, their efforts seem premature without Google's guidance.
That support is reportedly coming soon. According to the Wall Street Journal, Google plans to a wearable software development kit based on Android in two weeks:
Google plans to release its own smartwatch, which will be manufactured by LG Electronics. But as with the Nexus line of smartphones that Google makes, the company wants to help lay out a “vision” for other developers to power their own wearable devices.