Apple Inc. (NASDAQ:AAPL) has always been a brand associated with high-end tech products, and now it looks as if Apple wants to enter a new market: the luxury smartwatch market.

Gold Apple Watch Could Retail For $5,000

A look at Apple Watch

The new watch was unveiled over a week ago during the iPhone 6 event. The company’s chief executive officer Tim Cook three versions of the device including a regular watch, a sporty watch, and a luxury gold watch. Cook explained the cheapest model (the sporty version) will start at $350. The more expensive watch will be the luxury version. According to a report from analyst John Gruber, this watch may start at $5,000.

Gruber explained in a blog post, “Most people think I’m joking when I say the gold ones are going to start at $5,000. I couldn’t be more serious.Apple Watch is not a product from a tech company, and it will not be understood, at all, by the tech world. I think Apple Watch prices are going to be shockingly high — gasp-inducingly, get-me-to-the-fainting-couch high — from the perspective of the tech industry. But at the same time, there is room for them to be disruptively low from the perspective of the traditional watch and jewelry world.”

Possibilities for Apple Watch

Apple Inc. (NASDAQ:AAPL) still has plenty of time before the Watch launches next year to develop special functions for the device all while keeping everything a secret. It will be the special functionality that keeps people enthralled. The Cupertino-based tech giant still has to remain concerned over the possibility of obsolescence.

Whether people respond to the Apple Watch remains to be seen. The great thing is that Apple is giving consumers a choice but will they want a watch that requires a nightly charge or do they want a watch they may have to replace every few years? Maybe Apple will offer a software update to keep the watch relevAnt throughout the years.