The potential of electronic ink as a watch technology was dramatically demonstrated when Seiko showed off its $2.200 Spectrum bangle available only in Japan back in 2005. A similarly priced sequel is in the offing.
Nevertheless, a Hong Kong-based company called Art Technology is offering a more traditional design at a far more affordable price of $250 under the Phosphor watches brand. Still, I have to agree with this Gizmodo review that these initial faces fail to exploit the technology’s potential. The Phosphor Web site characterizes its current offerings as "the first in an entire line of next generation watches" so I am looking forward to future releases.