I'm curious...
Having read through that it sounds to me that the separate electronic device is the phone, not the removable strap. If that's the case then they've effectively got a patent that blocks any and all other wrist 'watch' devices that link to a phone. This is as ridiculous as the patent they went for (didn't hear the result, if it's been announced yet) for electronic page turning to stop other devices pretending they're a paperback book.
I'm now looking forward to another yawnathon court case with Samsung.