It seems the upcoming wearables will primarily run Android. Primarily as Nokia may later plan to bring some wearable based on its home-grown Linux-based cloud OS.
The New Devices Product team is handling the development work for wearables related to Health & Wellbeing.
The wearable will have a number of sensors to accurately measure and report biometric data or analysis and reporting that will use Android Sensor APIs
There will be companion apps for Android and iOS initially.
Coincidentally, couple of recent Nokia patents revealed an elegant smart band technology and many smart wearable designs. One of the patent talks about a health-oriented wearable band with ability to contract to enable proper contact with body to take correct health related data with help of sensors and and expand to provide comfort to users at other times. Another recent Nokia patent that we reported has many smart wearable designs and cool tech bits like hover interaction and notifications display.