Apple revealed new completely re-engineered $369 Apple Watches on Wednesday.
A GPS chip, swim-safe waterproofing, a 50 percent faster dual-core processor, a chip with double the graphics performance and battery life improvements were among the new features of Apple Watch Series 2, Apple chief operating officer Jeff Williams announced at Apple's special event in San Francisco. Apple-branded watches will be available September 16.
A second Apple Watch, the Apple Watch Nike+ was also unveiled, available for order on September 9 in most countries.
The new wearables start at $369 with the older Series 1 model dropping to $269.
The Series 2 Watch is water resistant to 50 meters, with a speaker that ejects water and artificial intelligence that learns the skills of the individual, Williams said. It has the brightest display that Apple has ever shipped on an Apple product and has a new finish option, ceramic, that's four time harder than stainless steel, Williams said.
The Series 2 also has a new assortment of designer bands and watch face designs from Hermes.
The Nike Watch, meanwhile, has a perforated version of the flexible fluoroelastomer used in the Apple Watch Sport Band, and has the Nike+ Run Club app integrated into the watch face.
Pokemon Go is also coming to the Apple Watch, Williams said, alongside many of the software features announced at this year's Apple developer conference, such as the Breathe relaxation app and the SOS app that lets you contact emergency services.
John Hanke, the CEO of Pokemon Go-maker Niantic, said the Apple Watch app,shipping before the end of the year, will let users pay more attention to what's around them with "heads up" gameplay.
Apple had been expected to reveal a long-awaited next generation version of its wearable device, alongside new phones, at the event.
"Apple Watch has really changed what people expect from a watch," CEO Tim Cook said at the event. "We became the number two watch brand in the world, despite only shipping 8 months in 2015."
The new device comes at a crucial time as Apple faces pressure keep innovating amid a maturing smartphone market.
Apple's iPhone sales — the main driver of the company's revenues — declined for the second quarter in a row in the fiscal third quarter, the company said in its latest earnings. Meanwhile, the wearable market overall is growing: 25.5 percent of American adults will use a wearable device this year, a figure that's expected to jump 17.4 percent next year, according to eMarketer.
Still, the wearable market has proven challenging for Apple so far.
Apple's wearables — which had changed only modestly since their debut — saw shipments drop nearly 57 percent in the second quarter, according to new estimates by International Data Corp., while the overall market for wearable devices grew 26.1 percent in the same period.
This is breaking news. Please check back for updates.
What are technology stocks doing? Track the sector here.