I read this post about the newest in watch design on Design Boom. This one is called Sol by Shin Azumi. You can read about an experiment called untrod:
untrod is a project which collaborates with international designers on various project themes – the first theme is 'watch'. designers have been asked to investigate the possibility of
bringing new meanings to the conventional form of a watch. these are the initial design concepts, so only renderings are available for some pieces.
This one has the basic elements of the wrist watch as we know it. Some are much further from the norm. For the complete story, click here.