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Bob's watch contains large amounts of normal-sized spy gear. He can barely lift his arm.
Agent 606: "I will be safe, because currently on my arm is a device with any conceivable gadget I could need for escape or surveillance, aside from Rocket Boots, of course." Agent 411-CE: "Oh, your wristwatch does all that?" Agent 606: "No, that's just a wristwatch. This thing running all down my other arm, under the shirt sleeve, is the device. But it tells time, too, in all 26 time zones, since it's waterproof and my actual watch is not."
Averted: Bob's watch is just a watch.
Enforced: "It's a spy movie. His watch has to do something cool."
Lampshaded: "Let me guess, special Agent B.O.B, your watch is really a taser?"
Invoked: Bob is getting ready for the mission, finds a wrist-gadget, and takes it, assuming it does something cool.
Exploited: Bob passes gadget wristwatches out to those he works closely with.
Defied: The Big Bad is sure to remove Bob's watch when Bob is captured.
Discussed: "Look at this, Agent Bob. This watch houses a laser, a comm device, and a flashlight." "Uh-huh. Kinda strange, but cool."
Conversed: "How can those superspies have a metal-cutting lasers in their watches? What year is this - 2633?"
Deconstructed: Bob ends up Driven to Suicide after his kid ends up killing himself accidentally by playing with his watch not knowing it had a lethal laser in it.
Reconstructed: ...and that is precisely why agents handle and store Gadget Watches just like one would handle and store real weapon.
Back to Gadget Watches, but the link probably has a couple extra functions...