Qualcomm is modifying one of its Nokia-based, 64bit chipsets to work with WearOS and this will hit the market ‘fairly soon’.
This means that WearOS should see a notable improvement in performance and, most likely, this will be most visible with extended battery life. This is made possible, for example, by power savings gains from using Bluetooth 5.0 and much more efficient architecture.
The chipset will be called with Snapdragon “Wear 2700” or Snapdragon “429 Wear” and this will be the model up from the existing Wear 3100 platform which is used by FEW manufacturers, partly because the gains it offered over its predecessor were not that great. In fact, as of today, it’s only the Fossil Sport WearOS watch that uses this chipset AND WHICH claims to be a sporty GPS watch at the same time.
There is speculation that this new SnapDragon will not be ready until 2020 but I would imagine that there is an almighty push to get this out ahead of Christmas 2019. Let’s see.
Edit: seet snapdragon 3300 here https://9to5google.com/2019/10/28/qualcomm-snapdragon-wear-3300-wear-os/