The new Apple Watch from Apple Inc. (NASDAQ: AAPL) will be released early next year. The device will likely cost $349. It is actually more expensive than that because the owner also has to own an iPhone 6 or iPhone 6 Plus. However, the list of things the watch can do numbers into the dozens. This shows off the extent to which new watches are not watches at all. A real watch like the Timex Weekender only tells time, but it costs just $36.

Actually, for $36 the Weekender owner gets a great deal. The watch not only tells time. It has a glow-in-the-dark feature. Some versions of the Timex have a compass-like feature, and some come with a tachometer.

On the base list of what the Apple Watch will do:

The crown has been a standard feature on watches for more than a century. Our new Digital Crown is a multifunctional input device that lets you zoom, scroll, and select without covering the screen. It’s as integral to Apple Watch as the Click Wheel is to iPod. Or the mouse is to Mac. We also built the new Watch OS from the wrist up. The Home screen lets you quickly find your favorite apps. The custom font is easy to read at arm’s length. And the force-sensitive Retina display puts more functionality at your fingertip. Technically speaking, it’s one amazing little device.

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And:

High-quality watches have long been defined by their ability to keep unfailingly accurate time, and Apple Watch is no exception. It uses multiple technologies in conjunction with your iPhone to keep time within 50 milliseconds of the definitive global time standard. And it can automatically adjust to the local time when you travel. Apple Watch also presents time in a more meaningful, personal context by sending you notifications and alerts relevant to your life and schedule.

And:

Apple Watch gives you a more complete picture of your all-day physical activity because it measures more than just the quantity of your movement, such as the number of steps you take. It measures the quality and frequency as well. The three rings of the Activity app show your progress at a glance, and provide all the motivation you need to sit less, move more, and get some exercise. There’s also a separate Workout app for dedicated cardio sessions. Over time, Apple Watch can use what it learns about the way you move to suggest personalized daily fitness goals and encourage you to achieve them. So you can live a better day and a healthier life.

Apple believes, and sales of the Apple Watch are likely to confirm, that millions of people will pay 10 times the price of the Timex — probably whether they need all the features or not.

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