While smartwatches have become a thing nowadays, they still aren't the widely accepted consumer electronics product that smartphones are these days. Aside from the fact that smartwatches are still quite novel, one of the biggest hurdles to their adoption is budget. Android Wear smartwatches, for example, have long gone past the $200 mark. And let's not even talk about an Apple Watch's price tag. So when Chinese OEM Elephone promises an Android Wear powered ELE Watch with a $115 figure, consider our interest, and our wallet, piqued.