"lesser" wristbands?
The market will be pretty much saturated by the time the Apple Watch hits the shelves, including by smartwatches much more capable that the Apple one (see the latest Sammy, which is the first and only to really deserve the prefix "smart"; unlike, notably, Apple's projected one).
It doesn't mean that Apple watch won't sell of course, if they play the "premium" card well they can make a killing; it's what Apple does best.
The surrounding "they invented a new market and will dominate it until the Asians manage to copy them" bullshit is just preposterous, especially in the present case where said Asian launched the products a few years ago and Apple is blatantly playing catchup after having dismissed the very concept at the time.
Biting the hand that feeds IT
