With Android Wear 2.0 launching soon, I guess I shouldn't be surprised at hearing some rumblings for new watches. However, I feel justified in my bemusement by this bit here: according to VentureBeat, ZTE is supposedly making a Wear device codenamed Quartz.
The materials received by VB don't mention much, leaving many of the specs up to guesswork. The watch was seen getting its Bluetooth certification under the name ZW10, which revealed that it has UMTS 3G connectivity. So we can likely expect there to be some sort of cellular functionality, à la Dick Tracy (which is a ton of fun, by the way).
Since VentureBeat says the information it got shows that the watch is still in development, I would not expect to see this any time soon. But with MWC coming ever closer, ZTE could surprise us with an announcement.