I thought it was noteworthy to give some props to @DataHiding (Michael Raggo) for his research on and presentations of the threats associated with the $17US U8 SmartWatch being peddled on Ebay which aparently communicates outbound traffic to random IPs located in China, during his recent talks at BSides San Francisco and RSAC. The watch, and particularly, the pairing app, is just one of the many threats that @DataHiding addresses in his research, but this is noteworthy. Here is a link to the story by Darren Pauli in The Register, and a couple of other links to @IronGeek's Video Post of his talk @ BSides San Francisco.
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