On Tuesday, Apple unveiled its new wearable device, which had been referred to as the iWatch for years by highly expectant technology media, as simply "Apple Watch." Here's what you need to know.

Introducing the Apple Watch in a "One more thing" segment reminiscent of Steve Jobs' favorite surprise portion of Apple presentations, Apple CEO Tim Cook introduced the Apple Watch as the "most personal device we've ever created."

Customizable Fashion

As such, Apple Watch emphasizes customizability more than any previous smartwatch released by the likes of Sony, Samsung, and others. The hardware itself comes in three editions, including Apple Watch, a smaller Apple Watch Sport, and an "Apple Watch Edition" made with 18-k gold.

On top of that, there are easily interchangeable straps that range from plastic in many colors, to several leather styles and colors, and some classic "chain link" styles, including one that uses magnates to make it "infinitely adjustable" according to designer and Apple VP Jony Ive.

Digital Crown

Harkening back to the days of the first iPod, Apple introduced the main navigational feature of the Apple Watch, which, unlike Android-based smartwatch competitors, is not the touchscreen. It's basically a mini click-wheel called the "Digital Crown," and it's a major point of emphasis with Apple.

The Digital Crown allows for zooming in and out on the Watch's small screen, along with quick scrolling through settings. For example, the Photos app works on Apple watch, and relies on the Digital Crown to zoom in on any photo in large (and likely hard to see) photo collage -- all the way to full-screen.

Pressing the Digital Crown like a button brings up the Watch's Home screen. Pressing and holding the Digital Crown activates Siri, and you can speak various Siri commands to dictate a message, find nearby locations, or check what movies are playing.

Other Specs, Features, and Apps

The Apple Watch comes with infrared and visible-light LEDs, and photosensors on the inside of the watch to detect your pulse rate -- along with a pedometer and various sensors that, for example, can detect when you're raising the Watch face to view it and automatically turns on the screen.

Battery life is still unknown for the Watch, though reports before the Tuesday event said Apple wanted to downplay expectations. But Tim Cook did say to expect the Watch to last "all day," so that's at least one benchmark that early testers and adopters will be able to go by.

There are plenty of apps for Apple Watch already, including Activity, which measures your movements using the built-in accelerometer, and Workout, to give you stats on your exercise and even how long you've been standing.

Text messaging works on Apple Watch as well, and in a very Google Now-type fashion, the Friends app can predict what your response might be based on your context. You can also call friends, send them hand-drawn sketches, and even show them your heartbeat -- which is what Cook probably was referring to when he said the Watch was the most personal device they've ever created.

Speaking of Google Now, there's a Today view-type feature on the Watch called "Glance," which is activated by swiping from the bottom, and gives you a customizable view of upcoming appointments, weather, calendar items and more.

Other apps like Twitter are already on Watch as well, along with Pinterest, hotel-booking apps, and more. Maps has full functionality on the Watch as well, with a vibration feature called "Taptic feedback" that will subtly let you know when you need to turn next.

Apple also introduced WatchKit, a development kit for software developers to start making more third-party apps for the Watch.

Release Date and Price

There's no word on a hard release date yet, but the Apple Watch will be available early next year. That means you won't be getting it with the iPhone 6, but you will need an iPhone 5 or better for it to work.

With so many customizable options, price points will vary, but the basic price Apple said is $349.

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