"A new wristwatch TV with a 1.5-inch TFT LCD screen will be released in Japan by NHJ Corporation. The VTV-101 is a miniature TV with an internal PLL Synthesizer Tuner for VHF and UHF reception. The 280 x 220 pixel screen measures around 22.2 x 29.5 mm and will display remaining battery, channel number and volume level."

Watch out SPOT watch, here comes the TV watch. I recently got the Suunto n3 SPOT watch and my biggest complaint of the unit is that it is HUGE. I mean, it is like Everest huge. People can see the time on the watch from up to 15 feet away, which is a bit scary given that this is meant to be a wrist watch. Now, the VTV-101 appears to have almost the same dimensions as the n3 and I don't really know how often I would have a TV watching emergency. (Maybe one day if the New York Knicks went to the NBA finals and I were stuck in my flying car, given that the Knicks have no chance of making it in the near future, then perhaps I could watch the game real quick on the watch).
Anyways, the audio output on the device is understandably mono and is supposed to be used with a single ear-bud headphone. The internal battery can hold a 1 hour of TV viewing charge, or there is an option of getting 3 hours out of it by using an external battery pack. The watch will sell for about $185 USD or 19,800 yen this May.