In the meantime, we have only heard rumors of Apple working on the Apple Watch Series 6, a successor to the Apple Watch Series 5 from last year. However, a new Bloomberg report states that Apple could launch another new Apple Watch model that will replace the Apple Watch Series 3.
The new cheaper Apple Watch model will help Apple compete against offerings from the likes of Fitbit and Samsung. Both companies have recently announced their new wearables, with the Fitbit Sense packing features like ECG, skin temperature reading, and more. It is also the first wearable to feature electrodermal activity (EDA) sensor that can be used for advanced heart rate tracking and managing stress levels.
The Apple Watch Series 6 is also rumored to come with advanced health-tracking features like stress level monitoring, blood oxygen monitoring, improved ECG, and more. It is unlikely that Apple will include these new features on the low-cost Apple Watch as it would end up increasing its price. These features are going to be limited to the Apple Watch Series 6 and Apple could end up bumping its price further so as to differentiate it from the low-cost model. Pricing for the Apple Watch Series 3 starts from $199 so the new low-cost Apple Watch should also be priced around the same ballpark.