Apple (AAPL) debuted its new Apple Watch Ultra at its Far Out event on Sept. 7. Available beginning on Sept. 23, the Apple Watch Pro starts at $799.
The new watch features a new 49 mm case, a brighter display, night mode, and what the company touts as the Apple Watch's "most technical face ever."
The Apple Watch Ultra also boasts a highly accurate GPS and a series of sport-specific bands. The Ultra is even able to turn into a tool for scuba divers, per a new partnership with dive equipment provider Oceanic.
The Apple Watch Ultra seems set to take on Garmin, which makes smartwatches that have long been a favorite of high-performance athletes.
The "rugged" Apple Watch has been much-anticipated, and rumors have long been flying about the Pro's durability and larger display.
Apple also announced the latest version of the Apple Watch SE, the company's most affordable smartwatch, and the $399 Apple Watch Series 8.
The growing (and competitive) wearables market
Smartwatches are a growth area, according to Insider Intelligence data. This year, the number of Apple Watch users will be up 8.9% from last year, hitting 25.8 million. By 2025, the number of Apple Watch users is expected to pass 30 million.
However, it's important to remember where, despite its growth, the Apple Watch lands in the Apple ecosystem. The Apple Watch falls under the umbrella of Apple's accessories business, a segment that also includes AirPods and HomePod. In 2021, that segment generated about $38.4 billion in revenue — a seemingly minor figure compared to the $191.97 billion that iPhone sales generated last year.
However, Apple's accessories business, despite its relative youth, has notably surpassed both the iPad and Mac businesses in terms of revenue. In 2021, the company's iPad operation reported $31.86 billion in revenue, while Macs brought in $35.19 billion.
Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks.
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