Following ages of speculation, leaks, and expectations, Apple has finally made its wearable device official: meet the new Apple Watch, previously referred to as the iWatch.

With the wearable device market now on the rise, the first wearable gadget from Apple was among the most highly-anticipated devices of this year. The new Apple Watch has now made its official debut, but it will not actually hit retail until next year.

The Apple Watch brings no groundbreaking innovation to the market, but it does sport some neat specs and features that will surely draw plenty of interest. First of all, the device looks and feels premium, and it also comes in two sizes to suit even smaller wrists.

It's obvious that Apple has put a lot of effort into its smartwatch. The device seems impressive on all aspects, but at the same time it doesn't stray too much from what a watch should actually be like. It doesn't look bulky or inconvenient, and it allows for seamless navigation and interactions through a traditional-looking dial called the Digital Crown, placed on the side of the watch.

The display itself looks vivid and bright and it is touch-enabled, although most of the navigation and interaction will involve Siri or the aforementioned Digital Crown. Users will be able to enjoy preset messages on the Apple Watch to reply to SMS messages, and will also be able to use Siri just as they would on an iPhone or iPad.

What makes the Apple Watch stand out from the crowd, however, lies in the design department. The gadget comes with an impressive range of options and possible customizations, allowing consumers to get the model that best suits their tastes and preferences. While other smartwatches out there generally come with a few strap options and a handful of case colors, the Apple Watch comes in three different collections, all with their own customization options. The three collections are the Apple Watch, Apple Watch Sport, and the luxurious Apple Watch Edition.

Interested buyers will be able to choose from different straps, clasps, colors or straps and clasps, materials such as metal, leather, and rubber, as well as different colors and finishes for everything. Options go all the way to luxurious 18-karat gold materials, available in yellow or rose gold hues. The mere fact that it comes in two sizes rather than one-size-fits-all has drawn plenty of praise as well, as it feels closer to a traditional watch.

As expected, the gadget also comes with a slew of sensors on board, with a focus on health and fitness. In terms of compatibility, the Apple Watch will work with the newly-unveiled iPhone 6 and iPhone 6 Plus, as well as the iPhone 5S, iPhone 5C, and iPhone 5, via Bluetooth.

The new Apple Watch sounds quite impressive overall, but there's still plenty to be seen until it actually hits retail. Many apps and services are not ready just yet, but notable companies such as Pinterest, BMW, and many others are currently working on their apps and services for the Apple Watch.

While it all sounds good, we still have no info on the battery life of the Apple Watch. Battery is a very important aspect for any device, but Apple failed to provide any concrete details in this regards. CEO Tim Cook did highlight the convenience of the magnetic charger that attaches to the rear of the watch face, but did not specify just how long the smartwatch will last on a single charge.

The Apple Watch will make its commercial debut in early 2015, sporting a $349 price tag for the base model. It remains unclear for now just how much upgrades will cost, but the 18-karat gold options will surely be significantly more expensive. We'll keep you up to date as soon as more information becomes available, so stay tuned. In the meantime, check out the Apple Watch on the company's website at this link.