This is Motorola's Moto 360 smartwatch. The device runs on Google's just announced Android for smartwatches, 'Android Wear', and features a circular display and premium design much like a regular watch.
The watch can give users notifications, features gesture based control, and from the pressshots it appears to give access to Google Now notifications which is built into Android Wear. Not much else is known about the device.
Motorola says that the device will release Summer of this year in a collection of styles. You can signup for news about the device over at moto360.motorola.com