What are luxury watches?

Announced one year ago, Google's Android Wear software is available on a half-dozen different smartwatches, ranging in price from $200 to $300. All of those smartwatches, whether they're the Motorola Moto 360, , are from traditional consumer electronics and smartphone makers. Today, Google is announcing a partnership with Swiss watchmaker Tag Heuer that will put Android Wear on luxury timepieces for the first time.

Best known for its analog chronographs and sponsorships with Formula 1 and other sporting events, Tag Heuer is one of the largest Swiss watchmakers. Its collection ranges in price from just under a thousand dollars to well into the five figure range. Tag isn't usually held in the same regard as Rolex or other Swiss brands, but it certainly has more luxury cachet than the average smartphone maker or even Japanese watchmakers.

Google provides the software, Tag Heuer the design, and Intel the processing components

Part of today's announcement includes Intel, which will be assisting Tag Heuer with the internal components and sensors for its smartwatches. Prior to this, Android Wear watches used Qualcomm or Texas Instruments processors, so Tag Heuer's versions will be among the first to use Intel chips. Intel has ventured into wearables before — the $495 Mica bracelet is one designed for women — but its earlier efforts used proprietary software platforms.