By Michelle Graff
There are three Apple Watch collections, Apple Watch Sport (left), Apple Watch and Apple Watch Edition.Cupertino, Calif.--Apple has unveiled its long-awaited entry into the “smartwatch” category, a timepiece it is simply calling Apple Watch, but remains mum on exactly where it will sell its latest introduction. 

The technology giant debuted the rectangular-shaped wristwatch, which CEO Tim Cook said is the “most personal device” the company ever has created, alongside the iPhone 6 and iPhone 6 Plus at an event held Tuesday at Apple headquarters in Cupertino. 

The long-talked-about device, officially unconfirmed by Apple until Tuesday and previously dubbed the “iWatch” by the media, has been the subject of much speculation. 

Many in the jewelry industry are wondering how its launch will impact sales of traditional, but not “smart,” watches priced at $1,000 or less, speculation heightened by the July revelation that Apple has added a TAG Heuer executive to its team.

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There also have been questions about who exactly will get to sell Apple’s new watch, with National Jeweler columnist Jan Brassem asking in his May column if the timepiece could be carried by some of the nation’s thousands of jewelry retailers.

While Apple revealed many details of its new watch’s design and functionality Tuesday, an Apple spokeswoman told National Jeweler that the company is not yet announcing where Apple Watch will be available. 

Here is what’s known about the device at this point.  

1. There are three collections for the timepiece: Apple Watch, Apple Watch Sport and Apple Watch Edition, which includes timepieces in custom alloys of 18-karat yellow or rose gold. It is available in two different sizes, 38 and 42 mm, with retail prices starting at $349. It will be available to consumers in early 2015. 

2. Cook said the watch is synchronized with the Universal Time Standard and is accurate within plus or minus 50 milliseconds. It is battery powered and charges using a system that combines Apple’s MagSafe technology with inductive charging. 

3. It is a smartwatch with many functions. Wearers can reply to text messages on their Apple Watch using Smart Replies (common, built-in quick responses) and dictation, or use Handoff--Apple’s capability that transfers user activities among multiple devices associated with the same user--to start a message on the watch and finish it on an iPhone. It also answers calls to the iPhone and has an Activity app that can measure calories burned, brisk activity and how often the wearer stands up during the day, among other things. 

4.  Apple Watch is also an “incredibly customizable” device of many faces. Apple Watch has 11 different dial options, including a chronograph; “Astronomy,” which has a real-time 3-D model of the Earth, sun, moon and planets; and Mickey Mouse, with the cartoon character’s outstretched arms indicating the hour and minutes. Each watch comes with all 11 faces and they are customizable; wearers can change the color scheme, choose design elements and add functionality. It also has sapphire glass over the dial and exhibition caseback.

5. Apple Watch comes in a number of different finishes and straps. It’s available in gray and “space black” stainless steel, silver or “space gray” anodized aluminum, and a custom 18-karat rose or yellow gold alloy. There also are a variety of straps available for the timepiece, including a stainless steel mesh, a stainless steel link bracelet and leather, that are interchangeable. 

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Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.