This thing here is one way in which Microsoft sees the future of smartwatches unfolding. It's a slimline design patent for the chassis of some possible wearable, focusing on making it a curvaceous and lightweight option.
The actual patent at the USPTO calls this an "ornamental design for an electronic band," one that, although thin on detail, does at least look rather slim and stylish when compared with today's bulked-up rival smartwatches. Microsoft applied for the patent back in March of 2013, so it's been working on wearable things, from a design perspective at least, for quite a while. [WMPoweruser]