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 Apple's first new device since Cook became CEO will be available for
order on April 10 and in stores on April 24, including chic
boutiques in Paris, London and Tokyo.
In a nod to both fashion and technology, Cook shared the stage with
model Christy Turlington Burns, who used it to train for a marathon,
and Apple engineers who showed how to send drawings, pictures and
even heartbeats with the watch.
Apple shares barely budged, however. Investors and analysts agreed
that Apple would sell millions to fans but questioned whether it had
a "killer app" that would engage a broader audience. Apple in
September gave a sneak peek of the watch which included many
features shown on Monday.
"I think there's a niche market for these kind of Apple tech people
who love Apple and will buy anything they come out with. But I just
don't know if it's going to be the power product that everyone's
looking for," said Daniel Morgan, senior portfolio manager at
Synovus Trust Company in Atlanta, Georgia, who described Wall Street
as "scratching its head".
Members of the style establishment, in Paris for shows from the
glittering likes of Chanel, Givenchy and Hermes mostly said they saw
the watch as a gadget, not this season's must-have accessory.
The Edition price tag which is inexpensive compared with a Patek
Philippe Nautilus at just over $42,000 on 11main.com, inspired
plenty of jibes on social media, including many who questioned
whether it would become outdated and compared the price to a car's.
"Wonder what kind of gas mileage it gets," asked Twitter user
Christopher Caruso.
Nevertheless many made clear they wanted it. "My birthday is gonna
rock this year... :-) #applewatch," wrote Jay Runquist.
The Apple Watch sport will start at $349 for the smaller, 38-mm
model. The standard version of the watch will start at $549 and the
high-end "Edition" watch will be priced from $10,000, said Cook, who
loved the Dick Tracy ability to hold phone calls by watch.
"I have been wanting to do this since I was five years old," said
Cook.
The different models reflect different materials. A $17,000 Edition
in the smaller, 38-mm size, has a case made from a customized
version of 18-karat rose gold, which is especially hard, along with
a sapphire display. It comes with a magnetic charging case.
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A $349 Sport model the same size has an aluminum case, a 'sport
band' and a magnetic charging cable, and no case.
All the watches share digital faces that can look like traditional
time pieces, show the heart beat of a friend, and display photos and
interfaces for apps.
"Apple's been very good at personalizing its products," said Angelo
Zino, an analyst at S&P Capital IQ, who said the "intimacy" of the
watch was appealing. He saw 10 million in sales this year.
In the presentation, Cook described the watch handling many
functions currently associated with the iPhone, which tethers
wirelessly to the watch and connects it to the Internet.
The watch will track exercise and remind wearers of events with a
tap on the wrist.
Cook also laid out other product successes and launched a new
MacBook notebook computer that starts at $1,299 and weighs as little
as 2 pounds.
Every major car brand had committed to delivering Apple's CarPlay
entertainment system, and the new iPhone 6 and 6 Plus have 99
percent customer satisfaction rates, he said. The Apple Pay payment
system is now accepted at 700,000 locations, and Time Warner Inc's
HBO in April will debut its streaming HBO NOW service on Apple TV.
Apple also is offering researchers new development tools, called
ResearchKit, to help medical researchers design apps for clinical
trials, the company said.
(additional reporting by Alexandria Sage, Piya Sinha-Roy, Ellen
Wulfhorst; writing by Peter Henderson; Editing by Bernard Orr)
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