Want a hot complication? How about a full-grown mobile phone inside a package the size of a Panerai?

The M500 is a quadband GSM/GPRS phone with MP3 and MP4 playing functions. The cell phone watches will ship from Hong Kong. The final production version is a little more exciting than expected: improved battery life and Pop3 email and instant messaging support. The production line churns out a quarter million units a month. No change of price has been announced: $820 a pop.

SMS MyMobileWatch M500 Ships August 31 [PMP Today]