At Tuesday’s event, Apple began with the expected release of 2 new iPhones, boasting larger displays and the usual improvements we’ve come to expect – better cameras, faster processors, and the much anticipated inclusion of a NFC chip that enables a new type of device-device communication. The new iPhones feature a slimmer, more rounded design. This rounder design returns to the style of iPhones past and makes the device more comfortable to hold.

Speculators have been wanting NFC technology in the iPhone for several years now, however, the mere inclusion of the chip would not have been enough. Before this technology could be truly useful, the necessary infrastructure needed to be in place with vendors, and the device needed the fingerprint authentication system Apple introduced last year known as Touch ID. To go along with this NFC chip, Apple introduced Apple Pay which will provide the infrastructure for vendors to receive mobile payments. Apple has also released APIs for developers as well as a large list of partners which will launch with the technology in October. Security was a major emphasis of the Apple Pay announcement. Apple Pay provides a layer of abstraction around your credit card details, keeping personal information out of the vendors’ systems which are often the targets of hackers. The security benefits of this technology give it huge potential, and with partners ranging from McDonalds to Whole Foods adoption is poised to be rapid.

As the event neared the one hour mark, the end felt near. With only minutes left, Tim Cook began what seemed to be a wrap up and then surprised everyone by announcing they had “one more thing.” This beloved phrase from Steve Jobs hadn’t been invoked at an Apple event since the last keynote before Jobs’ passing. And of course…that one more thing was the much anticipated Apple Watch.

For more than a year, Tim Cook has been teasing the press with talk of an Apple wearable device and the promise of new product categories. We can only assume that the long media foreshadowing reflects the long period of time this new product has been in development. Wearable devices are highly risky for Apple. The Apple Watch is a completely new kind of product for the company, in an entirely different sector than the rest of their line. Watches are innately personal devices which must balance the needs of fashion and usefulness while achieving broad cultural appeal. Many wearable devices released in the past year have failed to achieve that balance, weighing too far to one side or the other. The Pebble I wear daily is very useful to me but fails in the realm of fashion or style.  In light of these risk, Apple has taken their time conducting research and hiring knowledgable individuals such as ex-Burberry CEO Angela Ahrendts.

The Apple Watch is a completely new kind of device in both hardware and software. The use of the digital crown, a very analog input method, shows Apple’s understanding of the distinct needs of a smart watch. The digital crown optimizes speed of use for a device that should not be a burden or distraction. The software borrows little from iOS having a completely different interface and even using a new typeface. Understanding that not one size or style fits everyone, Apple has created an entire collection of watches with different sizes, materials, and bands.

While I believe Apple has solved the problems of software and style with their watch, there still are the issues of price and battery life. Apple didn’t mention anything about battery life at the keynote which probably means it is something they are continuing to make optimizations for at the software level. The only announced price was $349, which can be assumed to be for the base model. I wouldn’t be surprised if the gold versions went for upwards $600. This price isn’t incredibly high in the context of fashionable watches, but for technology which will be outdated within the year, it may be too much for the practical consumer. Despite these concerns, I think the Apple Watch is an incredible start with a new sphere of possibilities, and I look forward to trying it out next year.