Yu broke this bit of news while chatting with Engadget at IFA 2014 this week, but didn't offer much in the way of details. He did say that their smartwatch would be "innovative and beautiful" and added that it will be "more beautiful" than Samsung's new Gear S (which uses Tizen, not Android Wear).
Huawei has already launched a fitness tracker that's more of a smart wristband than a smartwatch (shown above). However, it will still be interesting to see what the company can come up with. What do you think of Huawei announcing their Android Wear plans?