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Apple Reduces Price of Starting Smartwatch
Apple has dropped the price of its entry-level Apple Watch Sport model by $50 for both the 38 mm and the 42 mm versions.
New York--Faced with increased competition and a difficult retail landscape, Apple has cut the price of its entry-level smartwatch.
On Monday, the company announced that it was dropping the starting price of the 38 mm Apple Watch Sport model from $349 to $299. The 42mm Apple Watch Sport now is priced at $349, down from $399.
The price for the tech giant’s more expensive models, the stainless steel Apple Watch and the Apple Watch Edition, remain the same.
The changes in price are effective immediately. This marks the first price cut for the smartwatch since Apple debuted it.
The company also revealed new band colors for the Sport and leather bands as well as a new band made of woven nylon that comes in multiple colors.
“People also love changing the bands and how it gives the watch an entirely new look,” CEO Tim Cook said at Apple’s press event held earlier this week. “About a third of our Apple Watch wearers regularly change their bands.”
Though the Apple Watch has become the dominant device in the saturated market for smartwatches, the company faces steep competition not only from other technology companies such as Samsung, LG and Motorola but also traditional watchmaking companies such as TAG Heuer, Breitling and Movado all of which have their own smart devices.
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