A new wearable smartphone called Blu is seeking funds via popular crowdsourcing platform Kickstarter, aiming to raise AU$600,000 to go into production.

This intriguing new device aims to deliver a flexible smartphone that can be worn around the wrist, combining the power of a smartphone with the convenience of a watch. In terms of design, the gadget looks like a thin, flat band that wraps around the wearer's wrist (see image above).

The device will sport a 5.3-inch F-OLED display with a resolution of 1920 x 1080 pixels, which will be able to flex around the wrist. Under the hood, the Blu wearable smartphone packs a Qualcomm Snapdragon 810 processor consisting of quad ARM Cortex A57 and quad A53, paired with Adreno 430 graphics and 2GB of RAM and comes with 64GB of internal storage capacity. The smartphone further features a 4,200 mAh battery and Qualcomm Quick Charge 2.0 technology. Other specs include a 13-megapixel rear camera (no flash), Wi-Fi 802.11n/ac, Bluetooth 4.1, and NFC. The smartphone will apparently work with a micro-SIM (CDMA Verizon, Sprint not available).

"Blu isn't a Smartwatch, it's a Wearable Smartphone. Blu is the Smartphone on your wrist, the unique combination offering both the 'power of a Smartphone' and the 'flexibility and convenience of a Smartwatch,'" touts the product description on Kickstarter.

"Until now, our only option was a Smartwatch, offering only a small mirror of a Smartphone. Smartwatches just aren't as "smart" as they could be. We wanted to create a truly smart device for people like you and me so we made Blu."

"Blu is a Smartphone, the most personal device offering all the tools and full functionality ready at your wrist. Blu is convenience everywhere, making all activities simpler, faster and extend beyond the normal smartphone's limits."

At the time of writing, the Blu wearable smartphone has 219 backers and has raised AU$63,706 out of the AU$600,000 goal, with 39 more days left to go.

The early bird tier for pledging $252 or more to get the Blu Wearable smartphone in a choice of Arctic White or Jet Black is already gone, with all 200 spots filled. The next tier is still available, but requires a bigger pledge of $391 AUD, $299 USD to receive the Blu wearable smartphone in one of the two aforementioned color options.