Yet another broadly-worded patent designed mostly to kill competition. EVERYONE KNOWS that we must have wrist mounted screens at some point. EVERYONE KNOWS that having the display wrap around the wrist a desirable feature. EVERYONE KNOWS that there must be wireless connectivity. EVERYONE KNOWS that the screen MUST be flexible and MUST be a touchscreen. EVERYONE KNOWS that in the long term the devices themselves WILL include the necessary processing power and be completely independent.
It doesn't take a genius to see where tech is heading. Even 3M had the same ideas: http://www.youtube.com/watch?v=kCZz4jFok_o
Nowadays it's all patent the obvious and sue all competitors.