Personally I have not had a great experience of smart watches, they seem fiddly to set up and tricky to use (though admittedly I haven't seen this one yet). In short as a concept they are just begging for a company like Apple, or Samsung, to create something that not only looks beautiful but works in an intuitive way too.
There's plenty about smartwatches and how Apple might approach them here. What we do know though is that Apple is experimenting with some innovative bendy glass and that appears to have been the inspiration behind this gorgeous mock up from Yanko Designs.
In addition to the bendy glass, its design is clearly inspired by the iPhone 5 and note that apple trademark single button.
There's more here along with the words of the designer Esben Oxholm.
For more on the iWatch and its rivals go here.