A few days ago Motorola unveiled an upcoming smart watch called the Moto 360. This device (which uses Google's new Android Wear OS) is, in my opinion, the first good looking smart watch or wearable device.
Now there are reports that the Moto 360 uses an OLED display. This makes a lot of sense. This will be an always-on watch, and at least according to photos, the default analog-watch display will be mostly black. So an OLED will be much more efficient than an LCD.
In addition, Motorola has a lot of experience with OLEDs, having used them in many smart phones (including the flagship Moto X with it's 4.7" 720p display).