In this still image provided by Apple from the keynote video of a special event at Apple Park in Cupertino, Calif., Apple's Chief Operating Officer Jeff Williams unveils Apple Watch Series 6 on Tuesday, Sept. 15, 2020.
The Apple Watch has never come close to rivaling the iPhone's popularity, but it does dominate the market for smartwatches.
Canaccord Genuity analyst T. Michael Walkley estimates about 51 million Apple Watches will be sold this year, a 5% increase from last year.
The new discount model, called the Apple Watch SE, will sell for $279 and be available beginning Friday.
Apple watches have been selling for an average of $377, based on Walkley’s calculations.