Swarovski's first Android Wear smartwatch is designed for women, debuting later this quarter.

The smartwatch segment is currently in a holding pattern as we await Android Wear 2.0. While LG and Motorola haven't committed to releasing new smartwatches, Swarovski has announced that it is teaming up with Qualcomm to launch its first Android Wear watch designed for women at Baselworld 2017, which takes place in March.

Swarovski didn't reveal a whole lot beyond the fact that the smartwatch will be powered by a Qualcomm processor. Smartwatch sales are in decline, but we could see renewed interest from brands and consumers with Android Wear 2.0. The update will bring standalone apps, NFC with Android Pay integration, and access to the Play Store. Google is also slated to make its foray with two "Nexus" smartwatches coming sometime this quarter.