Apple

Apple Watch, Apple Pay Show Innovation Has Returned

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Apple (NASDAQ:AAPL) on Tuesday unveiled a smartwatch that it hopes will redefine the wearable device category and give the company a lucrative new product line to boost sales and profits as the smartphone market matures.
The Apple Watch is the company's first new product category since it launched the iPad tablet more than four years ago under legendary co-founder and CEO Steve Jobs.
At a media event in Cupertino, Calif., Apple also introduced a mobile e-payment service called Apple Pay and two larger-screen iPhone 6 smartphones.

"Apple Watch is the most personal device we've ever created," said CEO Tim Cook, who unveiled the larger iPhone 6 and iPhone 6 Plus in addition to... View Enlarged Image

"Innovation is back at Apple after a three-year pause," Global Equities Research analyst Trip Chowdhry said. He called the Apple Watch "groundbreaking" and said Apple Pay will be a "runaway success."
Apple shares traded up as much as 5% vs. Monday's close and down as much as 2%. They ended lower, typical after such Apple events, but just 0.4% at 97.99.
The Apple Watch features a new user interface and specially designed apps for viewing on the small wrist screen. It also doubles as a health and fitness tracker. Users interact with the watch and its apps through the touchscreen, voice commands and a dial mechanism on the side called the Digital Crown. The Apple Watch must be paired with a newer iPhone to work fully.
With the Apple Watch, people will be able to send and receive messages, view information at a glance, get walking directions and other applications. It also comes with an array of watch faces for displaying the time.
Apple Watch Not Ready Yet
The Apple Watch will come in three customizable models: regular, sport and luxury. They feature bodies made of stainless steel, anodized aluminum and 18-karat gold, respectively. The watches allow users to swap out bands for any occasion, including bands for fitness, comfort and style. The bands are made of rubber, leather and stainless steel.
The Apple Watch will start at $349 and be available early 2015. "It is worth the wait," CEO Tim Cook said. "It will redefine what people expect from a watch."
Apple's wearable device will join smartwatches already on the market from LG, Motorola, Samsung, Sony (NYSE:SNE) and others. Watchmaker Fossil (NASDAQ:FOSL) slumped 2% Tuesday to 102.92.
The Apple Watch has a super-tough sapphire crystal display cover and comes in two screen sizes: 1.5 and 1.65 inches. It features a magnetic charger that attaches to the back of the watch. It will work with iPhone 5 and 6 series phones.
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