Apple Inc. unveiled its long-rumored Apple Watch, the tech giant's first new device in four years, in a gala event on Tuesday amid a raft of product announcements that also included two new iPhones and a mobile payment system.
Apple CEO Tim Cook called the watch, which will be customizable and available in multiple styles, "a comprehensive health and fitness device," and "the most most personal device we've ever created."
Apple also unveiled two new iPhones and mobile payment system Apple Pay, at its product launch at the Flint Center in Cupertino, Calif.
Apple shares rose more than 3.5 percent during the announcement to $101.80 in heavy trading.
Cook said the two new phones, which are thinner and have no distinct edges, "the best phones we've ever made." He defined Apple Pay, which will be built into all new iPhone 6, as "an entirely new payments solution."
IPHONE 6 AND IPHONE 6 PLUS
The iPhone 6 has a 4.7-inch Retina screen, a step up from the current models' 4-inch screens. The iPhone 6 Plus has a larger 5.5-inch screen. Both will come in gold, silver and space gray.
A 16 GB iPhone 6 will start at $199 with a 2-year contract, with 64GB phone going for $299 and a new 128 GB model selling for $399.
The iPhone 6 Plus will start at $299 for the same memory. The phones will start shipping Sept. 19 in the United States and eight other countries.
Both phones feature a new landscape mode for the homescreen for easier viewing and claim to improve graphics speeds by a factor of 84. Apple executives also trumpeted a longer battery life that would allow 11 hours of video playback and an improved 8 megapixel camera.
Apple says iPhone 6 will support more than 200 4G LTE carriers globally, including three in China.
The Apple Watch is a wearable device tethered to the iPhone that will combine health and fitness tracking with communications. It's the first new product to be developed and introduced under Cook in his time as chief executive.
The Apple Watch will cost $349 and be available in 2015. It comes with Siri and a navigation system linked to Apple Maps. It is compatible with the new iPhone 6 phones as well as iPhone 5 models.
It will come in three collections -- Apple Watch, Apple Watch Sport and Apple Watch Edition. It will have six band options, including leather and a metal metallic band.
Cowen & Co analysts estimated that Apple could sell 15 million to 20 million iWatches in 2015. Bernstein Research analyst Toni Sacconaghi estimated that, if Apple were to sell 30 million iWatches at $250 each, it would add about $7.5 billion to the company's revenue.
As for Apple Pay, which will be coming in October, Whole Foods, Subway, Disney, McDonald's (including drive-thru), Groupon and, of course, the Apple store have signed on to accept the payment system.
To use Apple Pay, consumers hold their iPhones, linked to a credit card, up to a payment device and wait for a beep.
"Apple Pay is easy secure and private," said Eddy Cue, Apple's senior vice president of Internet software.
Fans of the iPhone were already lining up outside the Apple store on New York's Fifth Avenue Tuesday morning to be among the first to get their hands on the new device, even though the phones typically arrive in stores around 10 days after their launch.
Analysts said new iPhones would be likely to help Apple to gain market share against mobiles running Google Inc.'s Android platform by offering something that Apple previously lacked: larger screens.
Apple capped off its product launch with a live performance by U2 to promote its album "Songs of Innocence" which Apple will give away from free in its iTunes store. Earlier Jimmy Fallon and Justin Timberlake didn't procut spots for the iPhone 6 and i Phone 6 Plus.
Reuters contributed to this report