Although many had anticipated Apple's first-ever smartwatch to be aptly named the iWatch to follow its iPhone, iPad and iPod ranges, the American tech giant didn't go for the obvious this time and called its upcoming device an even more simple 'Apple Watch'.

Expected to be launched by early next year, the Apple Watch is expected by many to perform better than its existing competitors who have long released their smartwatch devices like Sony's Live Watch, and Samsung's Gear.

The first thing that makes the Apple Watch unique from its competitors is a feature they call Digital Crown. Like age-old wristwatches, Apple's digital timepiece incorporates a crown with a digital twist. The Digital Crown works as both a home button and a zooming knob- allowing you to zoom in and out to get a better look at the display.

Display and Features

The Apple Watch boasts a retina display, which assures crystal clear resolution despite the minuscule screen. The much-awaited watch also comes with Siri, a heart rate sensor, a GPS navigator, and an accelerometer added for the use by Apple Watch athletic users.

The digital timepiece also features a Taptic Engine, which allows the Apple Watch to subtly alert its user of incoming notifications through a soft vibration, and an S1 chip which Apple calls an 'industry first', as the minuscule chip encompasses an entire computer system.

Apart from these, the Apple Watch also features magnetic charging through its MagSafe technology, which allows users to charge the digital smartwatch even in the dark, by simply holding the charging connector near the back of the timepiece-- which will automatically allow it to snap into place.

The Apple Watch is fully customizable and will be released in three variants: Watch, Watch Sport, and Watch Edition.

Rumors suggest that the highly anticipated smart watch is likely to be priced from $349 a piece.